Play video content EXCLUSIVE TMZ.com

9:50 AM PT -- A rep for Delta tells TMZ, "We are aware of the situation and are looking into it."

8:30 AM PT -- The eyewitness disputes Azealia's claim that the French man hit her in the face, insisting all he did was put his hand up for her to stop.

Azealia Banks went insane on a flight from New York to LAX Monday night, calling the flight attendant a "f***ing f***ot" ... and it's all on video.

A passenger sitting next to Banks tells TMZ, when the Delta flight landed just before 1:00 AM Tuesday, Azealia made a beeline for the front door. She had been sitting in seat 6A but a French couple in the 3rd row was blocking her exit as they pulled their luggage from the overhead bin.

The eyewitness says Azealia tried to squeeze by the couple when the French man put his hand out. Azealia, we're told, went nuts. The eyewitness says she spit in the man's face, punched him in the face and clawed at his shirt.

At that point we're told the flight attendant grabbed Azealia's bag and told her to calm down. She lost her balance, fell to the seat, stood up and then a tug-of-war over the luggage ensued. This is where the video begins.

Azealia demands to take her bag and leave, and eventually calls the flight attendant a "f***ing f***ot" -- a homophobic slur.

We're told the co-pilot came out and told Azealia the police were called. She then ran off the plane, dropping her cell phone.

Police caught up with Azealia at baggage claim and spoke with witnesses as well, but the French couple decided not to press charges because they were here on holiday and didn't want the hassle.

Azealia claims the French man actually hit her in the face. She adds, "I don't tolerate bitchassness and I don't tolerate men putting their hands on me."

Azealia has a history with the the word "f***ot" -- she uses it frequently on social media -- and earlier this year she explained why she gets a pass, in her mind.