Masters of Air is purely fictional. It's the product of the author's imagination and doesn't draw from actual happenings. The story and characters are made up to entertain and engage the readers/viewers.
It is. The story of 'Masters of the Air' draws from actual historical accounts and incorporates elements of truth to create a compelling narrative. However, some artistic liberties might have been taken for dramatic effect.
In a way, it is. The story takes elements from actual events and incorporates them into the narrative, although there might be some fictional additions for dramatic effect.