Despite the title, the vehicles here are airplanes, not balloons. Bluto and Popeye are racing around the world; Bluto's got a sort of rocket plane, and Popeye's got a sad old prop model that has to be hand-started. He gets off to a bad start, as Bluto spins the prop, getting Popeye tangled up in it. This knocks him out; Olive puts him into his plane and gives him a push, and Popeye wakes up in the nick of time. Bluto stops off at the Eiffel Tower to woo a maiden; Popeye, with help from a lightning bolt, passes him. Bluto catches up again, and removes Popeye's engine. The plane crashes into the ocean, but fortunately, there's a case of spinach and a giant magnet nearby, so Popeye rebuilds the plane, using spinach cans to replace the missing pistons, and wins the race, as his spinach exhaust fries Bluto's plane.
Izzy Sparber
Director
Isadore Klein
Writer

Jackson Beck
Bluto (voice) (uncredited)

Jack Mercer
Popeye (voice) (uncredited)

Mae Questel
Olive Oyl (voice) (uncredited)
Red Hot Riding Hood72%
Dog Trouble71%
Tom and Jerry: The Fast and the Furry70%
The Ugly Duckling69%
Mouse Cleaning69%
Gone Fishing65%
Luxo Jr.70%
Donald's Vacation64%
Sea Scouts63%
Pixie Hollow Bake Off69%
Kitty Foiled70%
Plankton: The Movie68%
Popeye the Sailor69%
Arctic Dogs60%
Jerry's Cousin71%
King-Size Canary70%
Puss Gets the Boot70%
Baseball Bugs68%
Chickenhare and the Hamster of Darkness72%
Planes59%