When a barnstorming stunt pilot decides to join the air corps, his two goofball assistants decide to go with him. Since the two are Abbott & Costello, the air corps doesn't know what it's in for.

The story—in which an American heiress on holiday in South America falls in love with an Argentine horse breeder against the wishes of their families—takes a backseat to the spectacular location shooting and parade of extravagant musical numbers, which include the larger-than-life Carmen Miranda singing the hit “South American Way” and a showstopping dance routine by the always amazing Nicholas Brothers.