The OLD MAN and The SEA PRINCE
Tony Stark is aboard a passenger jet flying back to the United States from France. He is angered beyond measure after discovering that his so-called allies in S.H.I.E.L.D. have been secretly buying up stock in Stark International with the intention of taking control of the company. To cool his nerves, Tony begins downing several martinis.
Things become decidedly odd when a passenger notices an army tank flying towards the window of the jet. The vehicle slices through the wing of the airplane and it goes into a tailspin. As the passengers begin to panic, Tony races to the bathroom so that he can change into his Iron Man armor. He flies outside and helps level the plane, bringing it safely down to the water near an island in the South Atlantic Ocean. A U.S. Special forces unit arrives to help rescue the passengers. Iron Man angrily questions one of the soldiers about the flying tank, and the man tells him that the vehicle was not flying, but was in fact thrown.
Iron Man flies to the island where he discovers that the perpetrator of the "flying tank" incident is none other than Prince Namor, the Sub-Mariner. Namor appears to be defending an elderly farmer named Hiram Dobbs. Iron Man wants to get Dobbs off the island since he knows that that the military has been using it for radioactive waste disposal.
As per tradition, Namor is unreasonable and refuses to listen to anything that Iron Man has to say to him. The two begin fighting one another in the sky, and even the land-bound Hiram Dobbs takes a few shots at Iron Man with a rifle. The combatants grapple with one another and their fight brings them down beneath the waves.
At Stark International, Mrs. Arbogast receives word that Tony Stark's plane has crashed into the ocean. Jim Rhodes and Bethany Cabe race towards the airfield in a desperate effort to help Tony out.
Elsewhere, a man named Justin Hammer conspires with his underlings on a scheme designed to take control of Iron Man's armor. They already tested phase one of the operation while Iron Man was aboard the S.H.I.E.L.D. Helicarrier. Now Hammer decides that it is time to test phase two.
While Iron Man is underwater fighting Namor, the sealing plates on his helmet spontaneously open and water begins rushing in. Iron Man begins drowning inside his own armor.