Anabella stars as Mme. Maurey, wife of a much-older aviator (Charles Vanel). While her husband soars into the wild blue yonder, Mme. Maury dallies with handsome young Capitane Thelis (Jean Murat). Though deeply in love with the heroine, Thelis tries to remain loyal to his friend Maury. The dilemma is resolved during the climactic aerial dogfight, in which one of the romantic rivals is killed.
Director Anatole Litvak remade L'Equipage in Hollywood, with a slightly different ending, as The Woman I Love (1937), starring Litvak's then-wife Miriam Hopkins.