Cary, Shep, Bill, and Francis are pilots during World War I. The four friends, haunted by the devastation of the war, head to Paris instead of home, where they meet Nikki, an eccentric and wealthy young woman. Nikki is drawn to Cary, and the five friends, tagged by the boorish reporter, Frink, drink their way from Paris to Lisbon.

"IMPORTANT! "The Last Flight," excepting for the few opening scenes, IS NOT A WAR PICTURE!"