We see V falling away from Calder and Bloodfeast. I think that implies that Calder is not falling yet. Of course, it may just be a cool splash panel. OTOH, Belkar said he was going to bring Calder down to the ground by throwing Bloodfeast. OTO,OH, Belkar is not smart enough to know how much weight a dragon can carry and still fly in units of allosauri.

If Calder can remain airborne he is going to focus all the attacks an angry dragon can make on Bloodfeast. I predict Bloodfeast can't take too much of that before letting go. He may be about the same size but he doesn't have a dragon's multiple attacks, AC, or HP.

If Calder comes down to ground level this is going to be a beat-down.