Sentinel of the sea Flipper discovers a sinking raft, manned by Bonnie McCoy, her father, an elephant and a chimpanzee.

In an effort to raise money to pay off creditors of McCoy's Floating Zoo, Sandy and Bud join Bonnie McCoy in a scheme to run away with her father's elephant and chimpanzee.

Judy the chimp steals a briefcase full of money and Sean McCoy of McCoy's Floating Zoo is arrested. Sandy, Bud and Bonnie decide to put on a show with Flipper to raise money for her father's bail.

Things take an ominous turn for Sandy and Flipper when the plane carrying them to the Bahamas crashes in the Ocean.

Flipper is the only hope of saving Sandy from drowning in a plane that crashed at sea, in the conclusion of this two part adventure.