Originally posted by ziggystar60
This is definetely a hoax. Someone has simply taken one of the usual "UFO" videos from Santiago in Chile which come along as clockwork in December every year, when the School of Aviation Fach practices/performs the graduation ceremony of officers with Pillan 14 aircrafts.
Read more about these yearly "UFO" sigthings and the graduation ceremony here:
The video in the OP has simply stolen footage from this Chile "UFO" video (from around 1:45) and manipulated the colors.