It can be done, however it is a rather long winded process.
You need to get a program called pretty polly editor (PPE). Open the *.mdl
file in PPE and save it as a *.dxf file. Close the program. Re-open it load
the *.dxf file and save it as a *.ac file.
Then you need to use a program called blender. You have to go to the
file-import-AC3D (.ac). Then you can import the file. The only information
contained in this file is the point locations and which polygons use which
points. All data connecting polygons and their texture maps is lost.
What then you need to do is manually seperate all of the parts and texture
If you have any trouble feel free to email me.
Flightgear-devel mailing list