If possible, try to determine the presumed purpose of the hijacking - is the hijackers' (terrorists') goal a suicide mission where the plane itself will be used as a bomb, or is the goal to take hostages in an effort to gain publicity for some cause? It could also be that the hijacker(s) is looking to escape to another country. In any event, if possible, try to determine whether or not your life and the lives of the other passengers and crew is in imminent danger. If you determine that the plane has been hijacked for the purpose of a suicide mission, or that a bomb will be detonated onboard, the other passengers (victims) may have to attempt overpowering the terrorists, and retaking control of the plane.
If it's clear that the goal of the hijacking or bomb threat is publicity etc. (the terrorists may say as much) your best bet for survival is to do as you're told, keep attention away from yourself, stay calm, avoid eye contact with your captor(s), and avoid making any sudden moves. Do not assault the hijackers physically or verbally. Comply with their instructions and avoid putting up a struggle. The same applies if your captors' goal is to escape to a different country. If your life is not in imminent danger, your best bet for survival is do as you're told and wait for a resolution, either by a hostage rescue team or through negotiation.
If it's clear that the terrorists aboard your plane are on a suicide mission, determined to either use the plane itself as a bomb or to detonate some other explosive device, the only survival option available to you may be to rush and overpower the terrorists, thereby retaking control of the plane. In such a situation, you or someone else will need to assume leadership, designate help and coordinate action. Start by determining how many hijackers (terrorists) there are and what weapons they are using. Next designate who will do what among the victims. Communicate with those around you. Do not be afraid, this may be your only chance to survive and help save the lives of other innocent passengers. After all, there is usually many more victim aboard a plane than there are hijackers. With some decisive action the hijackers can be overpowered.
Once you and other passengers around you have come up with a plan and designated roles, scout your immediate surroundings for any items that can be used as weapons. Pens and keys for example can be used for stabbing. A plane blanket can be used to blind a terrorist while someone else disarms and tackles him to the ground. See if there is anything you can use to trip a terrorist as he walks down the aisle. A hardcover book can be used to hit a terrorist in sensitive areas such as the groin or neck. Use the available magazines and newspapers as body armor by putting them under your shirt and tucking them into your pants, especially if and when you are lunging at a terrorist armed with a sharp object. If you are wearing a belt it can be used to incapacitate a terrorist by strangulation from behind, and later on to restrain him. The belt buckle can be used to hit the terrorist. Women who are wearing high-heeled shoes can use them as weapons as well. Full soda cans may be thrown at a terrorist and with good aim cause serious damage. Laptops and DVD players can be used to hit a terrorist etc. Look around you, and arm yourself with any of the many items commonly found on planes that can double as weapons. If many passengers do the same, (there is power in numbers) the hijackers can be defeated.
Ultimately, the only way to survive a hijacking situation may be to fight back. By remaining calm, keeping a cool head, being a little creative and very brave, you can save your life and the lives of others.