Captain Billy Buck Chandler is determined to be the first man in history to fly solo across the Atlantic Ocean. His mission is somewhat side-tracked when at a railroad station, he first sees Edith Herbert. She is ex-channel swimmer and current star attraction of Prince Nicolai Erraclyovitch Tchatchavadze's International Aquacade. Billy's female mechanic, who is secretly in love with him, is upset to find that Billy dreams of Edith. Billy is determined to meet Edith and win her and to this end he takes a crash course in sophistication at Madam Magix's Tonsorial and Sartorial Emporial where the urbane, and all-knowing, Madam Magix tells Billy what the business of sophistication is all about. The owner of the Aquacade, Prince Nikki is determined that he shall not loose his star attraction. He keeps a tight reign on her. He has in his possession certain compromising photographs with which he blackmails Edith into staying with the show. Arranging to run into Edith "accidentally" at the cinema where she often goes to fantasize, Billy finds Edith there and they fall in love. Seeing Billy as her only hope of escaping the clutches of Prince Nikki, Edith persuades Billy to fly her to Cuba. Nikki finds out about her plan and sabotages the plane which comes down on a seemingly deserted island which they quickly turn into a paradise. But Nikki is determined not to lose his star and comes and finds them. He forces Edith to go back to the Aquacade by threatening to reveal her past. Billy, left alone, bitterly returns to the only dream left him - his flight to Paris - and the fame he will achieve. Life at the Aquacade goes on but Edith is despondent and again decides to run away. Billy, however, is unable to forget Edith. He returns to Madam Magix for fresh advice - what should he do now? Madam Magix tells him that only love matters and this should give him the strength with which to achieve his dreams. Will Billy find Edith again? Will Prince Nikki be able to keep his star attraction? To the surprise of practically no one the Happily Ever After answers lie in the fairy tale ending that is MY ONE AND ONLY!