The Mystery Squadron

The Mystery Squadron 1933 is an American PreCode 12episode Mascot movie serial, and is one of the earlier serials to feature extensive aviation sequences.

Fred Cromwell Bob Steele and his partner Bill Cook Guinn Big Boy Williams seek to identify the Black Ace and stop his attacks on Grays construction of the power dam, as a number of characters behave suspiciously, including Lafe Johnson Purnell Pratt, a rival contractor to Gray, Martin Edward Peil, Sr., the hotel owner, Collins J. Carrol Naish, a construction employee for Gray and Dr. Flint Robert Frazer.Mascot Pictures made an impressive serial using a great deal of aerial footage to enliven the action. ........

Source: Wikipedia