If you like a big area of effect, go for Shockwave, available at the same level of research. Shockwave and armies do not mix, however, but the spell is deadly when cast by a lone mage. I do not believe the spell can kill the caster, if memory serves (at least my non Shock Resistant casters had no trouble with their own Shockwaves).
Lightning Bolt is actually Precision +7, for a net total of 18 precision for the weakest mage able to cast the spell (via an air gem). Quite good, and still decent even in a storm. Air does seem to be lacking in summons however: besides Air Queens, I do not believe Air has any "good" summon that can be actually used in an army (the Crows will not do you much good in a fight). There will be only three Air Queens, so if you want Air summons, you'd better hurry.
(I am, of course, not saying that Air is not a potent school)