John Payne is Major Paul Peterson, an ex-Air Force serviceman who has put together a good civilian life and thinks his flyboy days are behind him - that is, until he's called back into service by friend and former comrade Col. Hughes (Paul Kelly) to help test a new ejection system for high-altitude jet airplanes! Peterson is happy to take on the task, but is disappointed when he finds out he's just backup for younger pilots who are more experienced in the newer jet planes. Fate intervenes, though, and Peterson is moved to the head of the line - but then doubts start to linger in his mind: Is this new technology safe, and does he still have the right stuff to Bailout at 43,000?