No it looked nothing like that. And it was indeed Microsoft's Flight Simulator. We bought our PC at the end of 1986/early 1987, because I remember distinctly using it to type one of my first college papers in the fall of 87, and we had already been using the computer for several months.
I can even remember playing a simple version of a flight sim on the Apple II way back when that looked similar to what you posted above. I think the version of MSFS that I'm thinking of was Microsoft Flight Simulator II