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Plot Synopsis:
Pilot Cliff Secord is testing a new racing plane when his flight is interrupted by FBI chasing gangsters who have stolen some secret device. The gangsters shoot at Cliff's plane, and stash the device at the airfield. Cliff's plane crashes, and the gangsters are captured, but the FBI don't care for Cliff's loss.
The FBI believe the device was destroyed when the gangsters car crashed. They report to Howard Hughes that it was destroyed. He refuses to build another one.
Hollywood star Neville Sinclair is angry with Eddie Valentine because his men lost the device. He demands they find it immediately, and tells them they're looking for a rocket. Sinclair sends his thug to the hospital to interrogate Eddie's man about the rocket's location.
Meanwhile, Cliff and Peavey find the rocket stashed in their plane. They figure out what it does, and decide to try it out. It takes off out of control, and returns smashing into the ground. Cliff asks Peavey to fix it so it works properly, then they can use it to make enough money to repair their plane.
Cliff tells his girlfriend Jenny about the rocket. Sinclair overhears and tries to get to Cliff through Jenny. The gangsters search the airfield for the rocket, and wind up pursuing Cliff after he uses the rocket to save a fellow pilot during the airshow.
Peavey and Cliff get attacked at home by Lothar, Sinclair's thug, who's looking for the rocket. He takes the plans that Peavey has drawn, when the FBI also arrive looking for the rocket.
Hiding out, Cliff has a run in again with the gangsters, and learns that Sinclair has Jenny with him, and the gangsters are working for Sinclair. He takes off for the club to rescue her. Peavey is captured by someone.
At the club, he tries to warn Jenny, but runs into Lothar as he is leaving. He retrieves the rocket and tries to escape the club. Sinclair has all the doors locked, so Cliff escapes through the roof. Unfortunately, Sinclair captures Jenny as she is leaving.
Returning to the Bulldog Cafe, Cliff find's Peavey gone. And he is captured by the FBI, and taken to Howard Hughes. Howard explains that the Nazi's are after the rocket so they can invade with flying commandoes. Cliff realises that Neville Sinclair is a Nazi spy. He escapes and goes to meet Sinclair at Griffith Observatory. At Sinclair's house, Jenny tries to escape and discovers that Neville is working for the Nazi's also. She retrieves the rocket's plans from Sinclair's secret office.
At the Observatory, Cliff arrives to exchange the rocket for Jenny. He tells Valentine about the Nazis. Eddie and his gang turn on Sinclair, and he reveals his Nazi troops. When the FBI also arrive, Cliff manages to escape during the chaos. Neville takes Jenny aboard the Nazi zeppelin that has arrived. Cliff pursues them and damages the zeppelin's tail rudder on landing.
He fights his way through the Nazi's and Lothar to Neville. They have a confrontation, and Cliff gives the rocket to Neville, after secretly removing the gum that was covering the hole in the rocket's fuel tank. Neville takes off, and the rocket ignites the leaking fuel, exploding. As the zeppelin starts to burn up, Howard Hughes and Peavey arrive to rescue them.
Later, Howard delivers a new GB plane to Cliff, and Peavey receives his plans back, already thinking of ways to build a new improved rocket.
