Given that this ship only appeared for a few seconds in the opening cutscene of a game that ended up being shelved for over two decades, I must admit that this was a fairly obscure model to try and recreate.
This model ended up being somewhat less detailed than the Arwing, relying more on painted-on detail. It felt oddly appropriate, given the original's purpose as a briefly-seen cutscene model.
The first thing I did was re-create the original model to use as a reference. With no other original sources available, I had to try to match it at different angles against the cutscene animation.
I interpreted the design as being a cheap, bare-bones offshoot of the Arwing. Consequently, it takes some design cues from the first game's Arwing.
Figuring out what the thin lines on the original model were supposed to represent was a bit of a puzzle. I don't know if I matched the original intent of the design, but if looks reasonably plausible.