Lost in the Stratosphere (1934)

Unlike the aviators who reach high into the sky, the story stays at fairly low altitudes. Soapy (William Cagney) and Woody (Edward Nugent) are two US airmen who are close friends, but a love triangle with Evelyn (June Collyer) - who is not an aviator and thus doesn't have a nickname - damages that friendship...

However the two airmen are drawn together to crew a helium balloon which will try and beat the altitude record. Naturally things do not go to plan and this helps bring the two friends back together... and then apart in a way which may stretch credibility a bit.

The balloon scenes and other aerial adventures are pretty interesting though the rest of the film is pretty middling. The film is mostly notable for being one of the few films James Cagney's younger brother William starred in before he moved onto other roles in the industry.