Well, it could be inspired by real events but might have been embellished or changed for dramatic effect. Not everything presented might be strictly factual.
Yes. It draws from a true story. This gives the story a sense of authenticity. The characters and events in the film are likely inspired by the real people and things that happened in that true story, which can make the viewing experience more engaging as it has a connection to real - life heroics or situations.
Well, 'Prayer and a Wing True Story' could be significant in that it may tell a personal account of someone's spiritual journey. The 'prayer' part might represent their connection to a higher power, and the 'wing' could symbolize the help or support they received, either literally or metaphorically, during a particular event in their true story.