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Batman and Robin deduce that a backwards puzzle sent by the urbane Puzzler in a toy plane through Commissioner Gordon's window is a reference to Artemus Knab, a multi billionaire staying at the Gotham Arms hotel. Solving the puzzle, The Caped Crusaders concludes The Puzzler is after Knab and rush to his penthouse apartment. Knab rebuffs The Dynamic Duo, claiming to be working on a legit deal with The Puzzler for a puzzle balloon business.

Returning to The Batcave with a sample puzzle balloon, the Dynamic Duo learn the Puzzler and his gang plan to strip Knab and his guests of all their jewels at the christening of The Retsoor, the multi billionaire's supersonic plane.

Sadly, Batman and Robin arrive too late as the Puzzler and his men have already immobilized the guests with Puzzle Gas and have stolen their jewels. After throwing the gas at The Dynamic Duo, they make a break for it. Recovering from the Puzzler's gas, Batman and Robin find another puzzle balloon left in The Puzzler's wake. They follow the balloon's clue to The Puzzler's hideout at The Balloon Factory where they are overpowered by Blimpy, Glider and Ramjet and gassed. They regain consciousness to find themselves strapped into the basket of a hot-air balloon that is rigged to send them skyward and then plummeting to their doom once it reaches 20,000 feet!