NO, it is not finished.
The anime finished after the manga:
Anime finished: August 21, 1996
Manga finished: October 01, 1992
... But MangaUpdates contains information about the anime adaptation and indicates that it is incomplete.
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Aozora Shoujo-tai follows Takuya Isurugi, an aviation mechanic and anime enthusiast, who finds himself working with the 801st Tactical Training Squadron, an all-female aerial acrobatic team known as the "Airbats."
This unique squadron, led by the stern Mitsuru Konishi, is composed of individuals with very distinct personalities and quirks that add to the disfunction of the team.
Tensions rise as two members, Miyuki Haneda and Arisa Mitaka, develop feelings for Takuya, intensifying their already existing rivalry.
Faced with skepticism from the entire JASDF, the Airbats must learn to overcome their personal differences and work together to prove their worth and prevent the squadron from being disbanded.