Lt. Phantom Wing is in for more action as he and another Wonderbolt are sent on special assignment. He is about become a member of the crew for the maiden voyage. What starts out as a normal flight quickly becomes a disaster as an accident sends the ship to the bottom of the ocean. It becomes a race against time and the water for Phantom Wing to get out of the sunken hulk. Can he escape or will he end up sleeping with the fishes?