The Kidnapping of President Ellis was the first segment of a two-part plot thought up by Aldrich Killian to assassinate President Matthew Ellis on live television. Prior to the kidnapping, Killian and his Extremis subordinates captured the Iron Patriot armor, where Eric Savin then donned the suit and hijacked Air Force One under the guise of Colonel James Rhodes, killing the members of Secret Service in the plane.
Tony Stark's interference in the kidnapping caused the plan to turn sideways, however, as Savin then had the armor remotely fly Ellis to the Norco. Savin detonated explosives on the plane, which dislodged several passengers out of the aircraft, leaving them to fall out of the sky. While Stark failed to save Ellis, he neutralized Savin and rescued the falling passengers, while Air Force One exploded while airborne.
Tony Stark was assumed dead after his house was destroyed with him inside, but he escaped and managed to fly to Rose Hill, Tennessee. After being attacked by and killing Ellen Brandt, Stark went to Miami, Florida to Aldrich Killian's Mansion. Stark was captured by Aldrich Killian and forced to watch him kill Maya Hansen before escaping.
Upon reuniting, Stark and Rhodes contacted Vice President Rodriguez, to inform him of Killian's plans for the President. However, Rodriguez did not pass along the information, as he had secretly aligned himself with Killian and planned to assume the role of President following Ellis' murder, indirectly granting Killian control over the United States of America.
Eric Savin, in the Iron Patriot armor, boarded Air Force One. Once the plane was in flight, Savin locked up several Secret Service Agents and killed the others. President Matthew Ellis attempted to fight back as well with a fallen pistol, but Savin pinned him down. He then put the armor on him and sent it to Aldrich Killian on a decommissioned Roxxon oil-tanker, the Norco, for a public execution.
Iron Man used his Telepresence Headset to fly his Mark XLII suit to the plane to save the President. The armor arrived too late, but Stark stopped Savin before he could parachute out of the plane. Savin blows a hole in the plane causing all the trapped passengers to fall out of the plane. Stark kills Savin with a repulsor blast from his chest piece through Savin's heart. Stark then uses the armor to save the falling passengers.