The most common and most likely answer to this crossword clue is the 5 letter word BLIMP
I've seen this crossword clue in The Daily Telegraph
B
L
I
M
P
More clues leading to the result BLIMP
- Colonel born with foot impediment
- Pompous type of bishop with affected walk?
- Reactionary officer’s airship
- How Brexit begins with hopeless nationalist
- First to burst flaccid balloon
- Airship this person’s used to break British record
- British Liberal politician embracing international reactionary sort
- Relaxed on British craft
- From here one may observe second-rate flat
- Reactionary fellow that’s full of gas
Buddy explains!

The straight part
We know that "craft" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case craft = blimp.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does BLIMP mean?
BLIMP noun- An airship constructed with a non-rigid lifting agent container.
- (by extension) Any large airborne inflatable.
- An obese person.
- A person similar to the cartoon character Colonel Blimp; a pompous, reactionary British man.
- To expand like a blimp or balloon; to become fat.