Ace McCoy is an adventurer.
According to his moniker, he is a "famous adventurer of the air". Furthermore, he and his partner are "the fastest flying brain-and-brawn combination that ever streaked through the skyways of the world in search of adventure."
His partner is Bill Regan, master mechanic and pal who follows McCoy everywhere and does everything that McCoy does but does not get star billing (obviously needs a better agent).
McCoy undoubtedly get the lead role because he is exceptionally handsome with a full head of gorgeous blond hair constantly immaculate and in place. This is impressive because McCoy is above all else quite impetuous and leaps into action at the drop of a hat he never wears.
Luckily McCoy is a darn good fighter because he will, and frequently does, engage in fisticuffs with, well, everyone. In the first issued adventure, he feels it necessary to forcibly subdue some Coast Guard personnel (i.e., beats them up) when they will not lend him a plane to chase some bad guys. Gosh, he needed a plane, they had a plane, they did not give him the plane so he had to bop them a few times. Apparently he is such a good guy that they did not feel it necessary to arrest him when he got back.
McCoy is also very resourceful although it helps when the diabolical enemies are often incredibly gullible. Yes, I know you want to shoot me but I have some priceless gems in this here medicine cabinet. Get them for you? Sure! Oh, here's some ammonia to distract you. That kind of resourceful.
McCoy, however, does not seem to understand finances or at least he chooses to ignore some aspects of his escapades. In one instance, to recover $200k, McCoy destroys two planes and a hi-tech research balloon, all worth considerably more than the money he were rescuing.
As part of being a freelance adventurer, McCoy is available for work anywhere and anytime. The U.S. government likes that and makes use of him on several occasions. At least they do not seem to mind his wrecking a lot of planes.