No. 74 (F) Squadron's first intercept of the Phantom era was made on 7 April 1986, when a Tupolev Tu-142 Bear-F was intercepted. October 1986 saw a squadron exchange with 350th Squadron of the Belgian Air Force, seeing four SABCA F-16 Fighting Falcons arriving at Wattisham and four F-4J(UK)s going to Beauvechain Air Base. The squadron underwent another APC between February and March 1987, once again carrying out DACT with U.S. Navy Tomcats. On 1 July 1987, "the Tigers" celebrated their 70th anniversary by attempting to break the London-to-Edinburgh speed record, succeeding in doing so with a time of 27 minutes and 3 seconds. On 26 August 1987, No. 74 (F) Squadron lost F-4J(UK) Phantom "ZE358" in a fatal accident near Aberystwyth, Wales. Both crew members, Flt. Lt. Euan Holm Murdoch and Fg. Off. Jeremy Lindsey Ogg were killed.