Renny Harlin directs with a decent amount of skill (his movies aren't always great but for the most part he does his job well), keeping the pace nice and tight. Since this is a Harlin film, the blood hits during action scenes are rather large which makes for a nicely over the top feel to each bit of violence which there is a ton of.
The action is pretty damn great itself with some nice shootouts, a wonderfully over the top snowmobile chase scene and a finale on the wing of an escaping 747 that is quite fun. I especially get a kick out of Willis narrowly escaping death from a series of grenades with the longest fuses I have ever seen in my life. You can always count on a Joel Silver production from this era to deliver the goods.
The performances are solid for the most part with Willis of course turning in his usual funny man of action routine. William Sadler and Franco Nero are adequate villains and Dennis Franz is fun as a bombastic airport police captain. I also get a kick out of the brief appearance of Robert Patrick as one of the terrorists and Fred Dalton Thompson as the chief of airport operations. About the only problem, I can find is with William Atherton making a return from the first film. I'm okay with Bonnie Bedelia in danger as her plane can't land but having Atherton on board the same flight (as funny as he can be is a little too contrived for me.
Outside of that, the film is a little bit on the predictable side (anyone shocked that the John Amos character is in with the bad guys needs to watch more movies) and it does fall into the category of "sequel that is a re-dressed version of the original" but it's still a fun action movie.