Autopilot landing works perfectly.
This is step-by-step how it should be executed.
Mission Guns & rockets practice, test started at waypoint 4 (target area, long way from airfield).
-press 1 to switch mode to RETURN (ВЗВ) and engage autopilot "route following" (keyboard A).
-autopilot will then ascend to ~3k altitude (for some reason...) and fly towards the airfield.
-watch your speed (!), autopilot will do some tight turns/descends , don’t allow it fly slower than 300 km/h (or faster than 500 km/h) or you crash/miss the runway.
-autopilot will automatically switch mode to LNDG/ПОС and start approach.
-when runway 8 is in front of you, maintain 300 km/h speed, flaps all the way down, gear too.
-when you are lower than 50 m above the ground, disengage autopilot (LALT+9), flare aircraft yourself and land.
-after touchdown throttle to idle, wait 2-3 seconds, open dragging chute.
EDIT: If you are landing with air brakes on, give engines some more time before opening chute. DO NOT open dragging chute when engines RPM is more than 40% or IAS more than 300 km/h.
EDIT2: LALT+6 is "route following" autopilot mode, but in this "guide" I was using keyboard A command (called simply "Autopilot"), not LALT+6.