Just as J:NO does it. As you increase in altitude, there’s less and less O~2~ particles. This results in less drag, but dramatically decreases engine performance as there is less oxygen to supply the combustion of the engine. Also with the lessening O~2~ as altitude increases, aerodynamic lift of wings would as well. You’d begin to stall, even if you have enough speed to keep lift in lower atmosphere levels.
Have this as a toggle able option for players who don’t want to be hampered by the laws of physics.
Also, a subtle but very noticeable curve to the planet would be nice for scenic screenshots of high altitude aircraft like the SR-71.