If you go from fighter to 'mech mode while airborne, you immediately crash. Land or switch to airmech first.
Converting from fighter to airmech can only be done at the beginning of the movement phase when it begins the turn in the Inner Ring of the Radar Map. (IE. As if it were about to fly over the ground map). After it announces it is converting to airmech, it is placed on the ground map as if the beginning of a flight path, based on which Inner Ring it is moving from. It then moves from that location as an airmech.
Converting from airmech to fighter, when you announce you are converting to fighter from an airmech, the unit is immediately moved to the Central Zone of the Radar Map. The unit must then move as normal for an aerospace fighter (ie. leave the Central Zone).