Looked kinda vaguely like an SR-71 someone had dipped in a tank of liquid mercury.
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Personally, I disapproved of going "back" in time in the series to a place where space ships looked all shiny and advanced whereas in the "later" films everything looked all beat up, non-aerodynamic and cobbled together. Doesn't scan. And the Phantom Menace was a terrible film. Which reminds me, must try and download "The Phantom Edit".
As to your original question - this applies to all the spacecraft in the series, for instance you see X-wings hovering without any obvious thrust vectoring in Starwars. Ditto the Falcon, although there is some evidence of conventional puffer jets/rockets to stabilise the thing when landing on the pad in Cloud City, for example. The main burden of these ships weight though, is clearly borne by some other means, as described by Pdub.
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