Waldo Pepper is a former WWI biplane pilot who feels he missed out on his chance to earn glory during the war and dreams of being the first man to perform the risky outside loop. Desperate for cash, he resorts to "barnstorming" with his unique style of aerial showmanship and soon lands in Hollywood as a stunt pilot. When ace fighter pilot Ernst Kessler is cast to recreate his famous dogfight in a Hollywood blockbuster, Waldo sees an opportunity to redeem his war record in a dramatic and death-defying airborne fight that proves to be a little too real.
