With this tool installed, all applications that control airplane mode should work as they work on pre-4.2 devices.
Jelly Bean 4.x Airplane Mode Helper requires Xposed framework. This tool must be activated via it's launcher icon and in Xposed Installer.
It works by hooking broadcast sending inside system process (framework), intercepting airplane mode change broadcasts and adjusting system settings from system process.
Additionally Tasker/Locale plugin for airplane control is provided.
Airplane mode is toggled without any delays.
I will be glad to hear any reviews (please also provide information on what ROM the app was tested).
Xposed Module Repository page: