First things first, you will want a Valkyrie. Equipment is as follows:

-Fire suppression is my preferred choice, however, decoy flares can still work well for emergencies. If your team is skilled in rapid seat-swapping, you can have an engineer repairing the plane while you scurry away, thus negating the need for FS.

-Composite Armor is the most recommended. Stealth can help cover your approach, but since you will have to try to survive through a presumably large amount of fire, composite armor will help keep you alive for those precious extra seconds. Other options are not recommended, as they do not add anything that increases your potential for killing or for surviving.

-Hover Stability Airframe or Evasiveness Airframe. Your choice here. Hover stability will make stopping at the target easier, while evasiveness will make getting to it faster.

-Some form of anti-tank weapon for the nose gun. The Hellion is ideal, because it is a specialized anti-tank weapon. The Pelter will work moderately well for dealing with the tank and perhaps enemy infantry in the vicinity. The Wyvern is the default, and it will still work for this purpose because of its status as the all-around gun. The VLG will certainly be effective, although its laser guided missiles are more suited for sniping targets at longer range than what you will normally be dealing with. The CAS won’t work very well for this, since it’s a specialized anti-infantry gun. Recommend threat ID optics and magazine size increase for this gun, since the threat ID optics will make seeing easier while the magazine size increase will make downtime a minimum. Downtime for the Hellion specifically is much longer than just the reload time, due to the fact that it’s a chaingun with a spinup time. Not having to spin down the gun to reload as often means that you will be able to keep its maximum damage potential going for a longer period of time. If you are using a different gun, you can go with reload speed, if you so choose.

-The pilot and gunner are recommended to be engineers so they can focus on repairing, when necessary.

-The rumble seat passengers should all be heavies. Recommend grenade bandolier, anti-vehicle grenades, nanite mesh generator, crossbows with explosive bolts, battle rifles with underbarrel grenade launchers, and a dumbfire rocket launcher like the standard issue or the decimator. All other launchers are less effective, since lock on abilities are not as useful as raw damage in this case. The empire-specific special launchers (striker for the TR, lancer for the VS, and phoenix for the NC) are also not as good as the default launcher, since their gimmicks do not help here. All NS launchers are not good except for the decimator. If you have the decimator, go with that over your default. Since munitions pouch is only useful for sustained rocket barrages, which isn’t something that you will likely be doing, having extra AV grenades is actually the best way to increase your possible damage output.

Strategy is as follows:

-Pick out your target. Usually one or maybe two vehicles with a minimum of infantry around them. Don’t engage just yet.

-Once you have your target, make sure your passengers know what it is. They will jump out of the Valkyire in the direction they were facing when they were in the rumble seat, so if they don’t know where the target is relative to the plane, they will spend a few, potentially lethal seconds trying to figure out where they are supposed to be shooting.

-Approach the target FROM BEHIND. Most lone tanks are attempting to long range barrage a base for cert farming, and thus they will have a horrible case of tunnel vision. If you drop anybody in the front, it’s almost guaranteed that the tank will notice something is amiss and take a look around, and then it’ll be pure luck as to whether you survive and still manage to get your target.

-Stop low while still behind the target (one of the reasons I suggest hover stability airframe) and order deploy and fire. The heavies jump out with their rockets ready and overshields on, and they then fire right into the enemy tank’s back armor. The Valkyrie gunner also begins firing, one reason why I suggest the Hellion as the turret. If the heavies let off the rockets and don’t kill it, they then hurl their AV grenades.

-At this point, the target is probably dead. If the driver leapt out, blow him up, too. It’s him against four heavies and a Valkyrie, so he’s probably going to have a bad time. Pick up your heavies and leave. If you got damaged, find a safe spot and repair. If you had casualties, have them respawn back into the valkyrie. While rocket launchers can be resupplied from ammo packs, grenades can't, so if your team has expended grenades, make sure to get them to an infantry terminal to resupply. Ensure that your team is at full health and that their shields and overshields are fully charged. Then, get hunting again.

-Always go for tanks or perhaps sundies, if you are feeling lucky. Sundies are a much more dangerous threat, due to the large number of infantry around them. Especially difficult to destroy are the barrier sunderers, since for all intents and purposes they have about twice the health of a standard sundie. Don't engage those unless you've really got a lot of firepower focused on the sundie alone.

-Always go for the back armor of the tank. Most likely, he is looking off the side or front of the tank, not the back. The back armor is also the weakest, allowing you to get the most damage in as quickly as possible.

-As the pilot, make sure you are close enough to the target for your gunner to easily fire and your heavies to not have to walk before they can be sure of a hit. Also, stay mostly above and behind the tank, thus keeping you out of the enemy tank's firing angle. If you're going after skyguard lightnings, however, you're just going to have to trust your luck and pray you kill it before it starts firing back.

-Heavies, make sure you are reasonably close so you aren't attempting to snipe a moving target with a rocket launcher. Probably the hardest tanks to destroy with this maneuver would be magriders, because they can strafe. Being close allows you to focus less on aiming and focus more on shooting.

-Focus on the tank. Always. Any infantry in the vicinity are probably engineers with repair tools, and therefore it’s unlikely that they will be able to kill you before you let off a rocket.

-As a heavy, Let off a rocket, and then throw grenades. Do not reload until your grenades are exhausted. If you have the crossbow with explosive bolts, use that before reloading the rocket launcher. If you have your battle rifle, use its underbarrel grenade launchers before relaoding any weapons. If you have C4, use that and suicide with the stuff before reloading. The reason is to cause as much damage as possible before dying. When you are reloading, that is just time for the tank to notice you're there and fire back. Most likely, the tank will be dead before you are forced into using C4 or the crossbow. Those are there just in case.

-It might help if the pilot is instead a medic. That way, he can land and revive fallen heavies once the tank is dead, and he can use triage to heal all of them while they are inside the Valkyrie. Having the pilot play engie is just standard vehicle and aircraft strategy, to allow repairing, but it certainly isn't required.

-Regardless, you should keep the gunner as an engie. That way, if necessary, the gunner can switch seats with one of the heavies and repair the Valkyrie on the go.

-I cannot count the number of times I have sniped hovering light assaults out of the air. Despite how popular the C4 fairies are, it's extremely high risk. One light assault with C4 can get easily picked out of the air by a wary tank crew, and there are special utility items purely for identifying nearby infantry. I personally run scout radar on my siege tank prowler build, and it has saved my life on numerous occasions. This is why giving your enemy as many targets as possible is a viable strategy. When trying to be the C4 fairy, or bomb as an ESF, or pull a MAX or heavy to hurl explosives at a tank, you are one target. If the enemy sees you, they can end your entire killing spree with one shot. Two, if you're a MAX with flak armor. With valkyrie tankbusting, however, you can have up to six targets, if you have your gunner go heavy and drop out with the other shock troops. This throws the tank into indecision, and then into panic. Even if he kills one heavy, or the valkyrie, there's still plenty of tank-busting firepower left to destroy him. Your valkyrie will, in most cases, cost less resources than your target's tank.