DAMAGEAll of the systems in your aircraft are susceptible to damage which affects the appearance of the displays and the behavior of your aircraft. Unless the damage is minor, your priority should be to return home alive and, if possible, with your aircraft intact.
Damage can be inflicted upon your aircraft by AAA, SAMs - even farmers with shotguns! The master warning panel and caution panel will alert you of the damage. If serious damage occurs and you have lost control and power you still may be able to perform an emergency landing and land safely.
The player should only eject as a last resort if the aircraft is on fire and spinning to the ground or a direct missile hit.
The warning display panel on your multi-function display when lit red then that particular system is damaged beyond repair or has failed totally. When the system is yellow this is not permanent damage and can be rectified. "
From the manual