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At Spencer Airlines in England, American pilot Richard "Van" Vaness tries to stop his friend, suave Nick Talbot, from taking off in a storm. When Nick threatens to inform their boss, Boyd Spencer, that Van suffers from occasional blackouts caused by an old war injury, Van gives up, but spends the rest of the night worrying about his friend. By the following morning, fragments of Nick's plane wash ashore and he is presumed dead. Van visits Spencer and is appalled at the older man's lack of emotion. Van leaves the office with Spencer's girl friend, Alexi LaRoche, and, to prove his suspicion that she is involved in illegal activities, asks her to exchange pounds for dollars. After she agrees to meet him the following night, he visits his girl friend, Nick's sister Avril. Outside her door, Van spies a man named Snell leaving her place but does not know that Snell is blackmailing Avril to keep her father from discovering Nick's post-war black market business. After Van drops off Avril that night, he sees Snell in the downstairs bar and forces him to reveal his connection to Avril. Snell informs Van that he is blackmailing Avril and also delivering a set of tools to Cherbourg for Spencer. Van races to find the tools in the airline storage building. As soon as he grabs the box, however, another man runs from the room and escapes on a motorcycle. Van then calls his friend, customs intelligence officer Maxwell, who examines the tools and discovers that they are made of solid gold. Later, the bellboy is shot when he tries to drive Van's car to the front door, and Van has Snell arrested. The next day, Van visits Alexi to receive his dollars, and she tries to seduce him. Knowing that she was having an affair with Nick and now is merely using him to coerce him to kill Spencer, Van plays along in order to discover what Alexi knows. As soon as she reveals that Spencer has a coded notebook in his office which contains financial information, Van pushes her aside. He breaks into Spencer's darkened office and finds the notebook, but then hears Spencer collapse and sees the man from the storage building rush out to his motorcycle. Van follows the man, but when he suffers a blackout and crashes his car, the man rescues him. Van wakes in the cottage of Nick and his girl friend Jeanette. Nick admits that he faked his death to escape the control of Spencer, who had been informed by Snell that Nick was wanted by the French police. Although neither man can understand the coded notebook, Nick knows that Spencer has been manufacturing dollars from old Nazi forging plates. While Alexi tells Spencer that it was Van who attacked him, Van brings Avril to see her brother. As the two talk, Nick realizes that Van has just left to inspect the causeway where Spencer hoards his dollars. He races after Van and enters just in time to save him from Spencer and Snell. A fight breaks out, and Van and Nick race to their car, but Nick is shot. Van leaves Nick with Jeanette and Avril and returns to the causeway, where Maxwell steps out of the shadows. Van finally convinces him that he is innocent and Spencer is the forger, and together they chase the airline owner to the airport. Spencer flies away, but his engines fail and he quickly crashes and dies. Meanwhile, with his dying breath, Nick, who cannot risk having a doctor attend to him, reveals to Avril that Van is afraid to marry her because of his blackouts. Van, unaware of Nick's death, later informs Avril that he is leaving town for a while to think things over. Remembering Nick's words, Avril chases Van to the airport just as his plane is about to take off. Van spots Avril and, smiling, tells the pilot to leave without him.