Instructions
Move around in the cockpit with the nunchuck analog stick when you gain control of Bond again after the cutscene. Look 90 degrees to the left.
Hit the big red button immediately with the "L" button to your left to eject out of the cockpit before it explodes. During the cutscene, Bond will untie his hands.
Steer your way past the wreckage with the parachute until you are a safe distance away from the fire and explosion. When you're far away enough, a cutscene will show you landing safely.