I personally believe the Devs tried to make Starfighters fly in formations. However many other people, including myself, have tried to get it to work to no avail. I believe the code is either broken, incomplete, or just removed and they didn't bother removing the ODF lines pertaining to Formations.
There might be a workaround that this really smart guy I know can do, but we'll see.
One could create flyer splines that are parallel with each other and give some of the nodes properties to switch between the flyer spline paths that the flyers would follow, though this would only sometimes create the illusion of the A.I. flying in squadrons.
In eggman's aldurda series the fighters flew in a pretty orderly fashion. I don't know how he did it through. I think this is worth looking into. (Scurries to BF2_ModTools).