In the 1930s, once-great World War I pilot Roger Shumann performs as a daredevil barnstorming pilot at aerial stunt shows while his wife, LaVerne, works as a parachutist. When newspaper reporter Burke Devlin arrives to do a story on the Shumanns’ act, he quickly falls in love with the beautiful--and neglected--LaVerne.

Shipwreck survivors found on the presumably uninhabited Infant Island leads to a scientific expedition that discovers a surviving native population along with the Shobijin, tiny twin fairy priestesses of the island's mythical deity called Mothra. After the fairies are kidnapped by an exploitative businessman named Clark Nelson, Mothra sets out to rescue them.

The year is 1940 and Pilot Officer T.B. Baird arrives straight out of flight school to join a front line RAF squadron at the height of the Battle of Britain. After an unfortunate start and a drumming down from his commanding officer, Baird must balance the struggle to impress his Group Captain, regain his pride, fit in with his fellow pilots, and survive one of the most intense air battles in history.