Im no F16 owner, but plan on beaing in the future,i got some advice tho:

Having the F16 be a decal might be very troublesome specially for "transparent" sails, as you will see f16 on one side, then 61f on the other. Thus you will have to place the decal on another area on the other side. I think Marys advice will work very well, as having an opaque circle will create a non-transparent spot in the sail where you can have text that will be read well and not be affected by transparency.

The opaque circle will also keep the sail more organized with less text, since with a decal you will have tons of reverse text behind the correct text. Not to mention it will also make the logo stand out more by creating more contrast.