Nathan Zachary leads the Fortune Hunters, an air pirate crew flying out of the Pandora in an alternate-history 1937 where the United States has fractured and the skies belong to whoever is bold enough to claim them. The trouble begins with a betrayal: Lucas Miles, one of their own, sold them out over Cuba. Now the Fortune Hunters are picking up the pieces, running jobs and following leads that keep pulling them into larger conspiracies.
A distress call from Ilsa Fassenbiender — daughter of the kidnapped scientist Doctor Wilhelm Fassenbiender — sends them against Soviet forces aboard the CCCP zeppelin Workers' Voyage. Freeing the doctor leads to a lightning raid on a Boeing plant in Pacifica, a fuel heist off the coast, and a preemptive strike against Blake Aviation Security. Flush with victories and two world-class aircraft designers in tow, the Fortune Hunters head to the Nation of Hollywood — where a stolen aircraft, a race victory in the first Johnson Cup, and a vengeful Johnny Johnson leave the Pandora badly damaged and the crew needing a tow.
Then come the Black Hats, a pirate gang with a talent for appearing right when the Fortune Hunters are most exposed. Nathan's entire crew vanishes, and only the Black Swan — his old flame — is left standing beside him. Tracking the Black Hats through Sky Haven, rescuing the crews, and dismantling their operation reveals the truth: Lucas Miles is behind everything. Running Sacred Trust Incorporated as a front and controlling the Black Hats from the shadows, he has orchestrated every disaster. When his airship Dante finally goes down in flames over Manhattan, it closes a long and bitter chapter — and the Fortune Hunters collect their government reward and head somewhere warm.