I hope the micromanagement will be reduced, without removing air battles and interceptions. Also hope that things like speed and service ceiling is taken into account. Maybe attaching squadrons to HQs and then set the HQs resposibility area and mission. I want to attach my CAS and multi roles to frontline HQs, where they can automatically support battles going on, and I want dedicated air HQs for my interceptors and strategic air forces. Air battles should in most cases be much less decisive, with more attrition type losses. Then you can get daily or weekly reports from each HQ stating their losses and damage inflicted on the enemy.
Just speculating really, i never used air power in HOI3 and only in special cases in HOI2, mostly due to the micromanagement and how a single mistake would ground your airforce for months.