The Lost Squadron is a 1932 American pre-Code drama, action, film starring Richard Dix, Mary Astor, and Robert Armstrong, with Erich von Stroheim and Joel McCrea in supporting roles, and released by RKO Radio Pictures. Based on the novel The Lost Squadron (1932) by Dick Grace, the film is about three World War I pilots who find jobs after the war as Hollywood stunt fliers. The much-later The Great Waldo Pepper (1975) employed a similar theme. The Lost Squadron was the first RKO production to carry the screen credit "Executive Producer, David O. Selznick".