When you have to "wait" before landing (it's called "Holding"), you normally fly the aircraft at a speed determined by the manufacturer of the aircraft as being a speed where you are relatively fuel efficient. On a Fokker 100 something like 210-220 knots or so (it varies by weight and altitude). On Boeing aircraft that speed would be considerably higher for various other reasons and for a turbo-prop something like 150 knots. At the same time you fly around a pattern that is some called a "Racetrack". Standing still is not a practical option when you are flying although it may appear to be an optical illusion from the ground.