Jones had his first flying lesson at just five years old, in 1965, in a Cessna, on the knee of a family friend. He became a pilot both commercially and competitively.
Commercially, Jones was formerly a captain for British Airways, flying a Boeing 747. He spends his off-season working on and racing vintage cars. His company is also rebuilding two vintage wooden racing aircraft.
Since 1994, Jones has flown competitively and as a display pilot with Paul Bonhomme in their Red Bull Matadors Team. They have taken their show around the world from the UAE to Japan. Jones flies as the wingman. Jones was a competitive Red Bull Air Race pilot from the first UK race which took place in Kemble UK in 2004. In the Red Bull Air Race series of 2007, he won in Porto, Portugal, defeating Mike Mangold.
Jones retired from Airrace as a competitor at the end of the 2008 season. He spent the next two seasons as technical commentator for TV and Internet coverage.
Red Bull Air Race took a 3-year break, returning in 2014. Jones came back as race director and head of training.
On 16th November 2021 Steve Jones became the record holder for electrically powered planes over a 3km course, with a speed of 559.9km/h (345.4mph) in the Spirit of innovation, built for Rolls Royce buy the now defunct Electroflight.