While vacationing in South America, New York showgirl Bonnie Lee (Jean Arthur) meets Geoff Carter (Cary Grant), an airline executive whose chances at getting an important government contract have been jeopardized by a fog that has grounded his mail planes. Following the death of one of Geoff's pilots, Bat McPherson (Richard Barthelmess) signs on as a replacement. And while McPherson is widely known as being a coward, complicating matters even further is the fact that his wife, Judith (Rita Hayworth), is Geoff's ex-girlfriend. After Bat takes off on a mail run, an accident leaves his co-pilot, the Kid (Thomas Mitchell), badly injured. Although the Kid begs him to bail out to safety, Bat returns to the airport to make a spectacular landing. And as he is taking his dying breath, the Kid tells Geoff of Bat's heroism.