Historic Jet Crashes In Spanish Air Show
 

It looks like he tried to do a low fly-by, but clipped a telephone pole.

RIP.

Very curious where you got this from.

My bad :o. The video that I saw was the same crash, but from a different angle. I should have double checked the link that the OP posted before I made that comment.

LiveLeak.com - Vintage Jet Accident in Madrid - Another angle

I don't know if I can say that he clipped a pole or simply crashed into it. Was he out of control before he started contacting obstacles? I can't tell from that video.

When I watched video 1 it appeared the altitude was misjudged and there was not enough room to complete the maneuver. Similar to the F/A-18 demo guy doing a "square loop" and pancaked on the runway (he survived).

The second video I got the impression he knew he was in trouble and was trying to get away from the crowd.