Actually, I don't see this feature changing most OpenTTD players' behaviour at all, since most players just spam the largest aircraft, and those are also the aircraft with the longest range.
Actually I see nothing wrong with "jumbojets" being profitable at a long range like usual (and as in real life). As long they're unprofitable at a relatively short distances with hefty build/maintenance costs. I don't really care about other people's habits, as long I use a aircraft set that allows me to use a mix of vehicles successfully and profitable (assuming I use them right), I am happy.
Infact the range system would be a good excuse to give smaller aircrafts lower costs in average, you just have much more limited range!
If the concern is vehicle spamming, then some dynamic cost inflation system would be probably best, the more you buy of something, the more expensive it gets (might be a interesting mechanic in a multiplayer game, but this might wind up feeling a bit too artificial to players).