"How do I best handle in-flight fire emergency, electrical and/or fuel related emergencies? " - Frank R.
“These are all very serious issues.
The common response to all of these emergencies is to get the aircraft on the ground as soon as possible. Any delay could prove very costly.
Remember the big three:
1. Maintain aircraft control
2. Analyze the situation
3. Take positive action.
Run your emergency checklist just as soon as possible. Notify ATC and declare an emergency.
In-flight fire is obviously the most severe and requires immediate action. Land now!
Electrical issues might be mitigated by shutting off equipment and isolating the problem. But just because you stopped the immediate problem does not mean you are out of the woods. Land now! Who knows what damage exists?
Low fuel state can not tolerate additional delays. Land while the aircraft is still powered.”