This paper investigates an adaptive fault-tolerant control strategy for the Twin Otter aircraft, aimed at addressing critical challenges arising from system uncertainties and actuator faults. A global prescribed performance function is employed to ensure pre-determined transient and steady-state tracking performance under uncertainties and faults. Differing from existing prescribed performance controllers, the proposed approach is characterized by (1) no limitation on the initial tracking error; (2) no requirement for tracking error normalization; and (3) incorporation of an improved monitoring function. Specifically, this novel monitoring function dynamically adjusts prescribed error bounds based on real-time fault information, thus enhancing flexibility and robustness. Furthermore, fixed-time convergence of the tracking error is rigorously guaranteed, significantly improving system reliability and safety. Although the simplified Twin Otter aircraft model analyzed herein is a second-order parametric strict-feedback system, the theoretical framework extends naturally to higher-order strict-feedback systems. The effectiveness and advantages of the proposed method are validated through theoretical analysis and numerical simulations on a Twin Otter aircraft system with time-varying parameters and actuator faults.