IMHO Air-approaches have some merit. Zelda's floatiness and very useful SH qualities give you a lot of options to initiate an approach, and, in case your opponent counters/dodges/blocks, still have time to react to what your opponent does. I'll you some scenario's that I use when approaching from the air.
1) SH an Fair or RAR-Bair but time the kick while you are in the upward motion of the jump (ie. before the peak) and immediately after the kick DI yourself away from your opponent and Din's him. The momentum carrying properties of the Din's make you drift farther away from your opponent, thus keeping you safe from harm. All this should take place very low to the ground to save time on the fall afterwards. Using this tactics is a good way to pressure your opponent while giving them but little opportunity to retaliate lest they risk taking a hit from the Din's. If they do fail to react properly to the Din's, feel free to rush in as your approach has just succeeded
. This is the one I use most, but try not to OVERuse it as the window IS there albeit small. Rewards can be great though (Lightning kick, or a hit with Din's setting up for juggles)
1a) To mix up your game, use the above, but instead of following your Fair with a backwards Din's, follow it up with a second jump and a fast-falling Nair. This is a good way to capitalize on your opponent dropping shield after the kick and, depending on how your Nair connects, can lead to a juggle or just a single free hit.
1b) When you feel that your opponent is starting to grasp the concept and just keeps up his shield or finds a way to counter or dodge, you are always still free to abort and use your second jump with FF to retreat to safety.
This gives 3 variations on the same startup approach move, giving you plenty of options to mix-up your approach game.
2) Fake out your opponent by running at them, stopping, then when they attack, or shield and drop when they see you're not coming, SH FF an Nair onto their head. Truly, Nair is your most versatile option when combined with proper spacing and FF.
3) Approach using a SH Fair and push it through your opponent (try not to Sweetspot) and fire a Bair at him when your on his backside. Opponent usually let down their guard after they think you whiff your Fair Sweetspot, so take advantage of this. Remember the Lightning Kick timing in a SH ; You can fire 1 Fair and 1 Bair, 2 Bairs or 1 Fair, but not 2 Fairs.
3a) Same principle but instead of a second kick use a Naryu's Love to drag your opponent in front of you. If he misses his tech follow up with a Dash attack or Fsmash.
4) Slow approach by using Din's in a SH and float forward bit by bit.
As said before, approaching from the air with Zelda is not the easiest of times, but I hope this helps. A lot of mixing-up is key. Set your opponent up for these options by running at them, SHing and not doing anything, SHing through them and air-dodging etc. MIX IT UP
