That is very familiar because it was shown on UK television a couple of months ago. It is not a film as such but a "Tales of the Unexpected" episode entitled Hijack.
"Captain Waterhouse has to deal with a man on board his airliner who seizes Milly, a stewardess, takes her and a bottle of nitroglycerine into a tiny lavatory, and demands one million dollars in ransom money, plus a parachute for himself. The hijacker believes both have been delivered to him, and he jumps out... However, the story is not over yet..."

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