Yup, you gotta make sure you're using WASD and Barrel Rolls to avoid incoming fire while shooting at enemy ships. Also, the Power Conversion Module and the Electronic Warfare Pod are a big help. Just go with Power to Blasters when you are shooting at enemy ships and switch to Power to Shields when you need to recharge fast. Also, use the EWP when the big wave of fighters comes out after the first pass at the ship. If you really need life, switch on Power to Shields during that time as well. With Grade 5 Upgrades, I'm easily killing 80 fighters, competing the bonus mission and coming out of it with full shields and full health.