While prowling on the high seas, the corsairs led by Conrad spot a merchant ship from the Kingdom of Margentos. However, it turns out its cargo is enslaved people. The Quartermaster Birbanto sides with the Margentosian captain and insists they make a fortune by selling those foredoomed to become victims of the slave trade anyway. To Birbanto's dismay, Conrad executes the captain and frees the hostages. Free again, Ali and other men join the resistance by the Band of Corsairs. With a mightier crew, Conrad and the corsairs hoist their sail. 

The corsairs drop their anchor on the shore of an unfamiliar isle for respite and repair. Serendipity–the air is perfumed sweet with orange blossoms, and the smiles on Floriana’s inhabitants are only sweeter. The islanders invite the corsairs to join them in celebrating the harvest, and there's no reason for them to say no. At the festivities, a vivacious girl named Medora captures Conrad's eyes and heart. Luckily for him, Medora seems to be attracted to this dashing stranger who is said to be a daredevil on the waves. Just as the bud of love is about to bloom, the royal procession from Margentos reaches Floriana. The King coerces the islanders to submit to Margentos' authority and pay tributes. Seeing that Medora and her friends have nothing of value to offer, Margentosians abduct them. Unable to disregard this injustice, Conrad and the corsairs resolve to rescue Medora and her friends. 

Once the rescue mission succeeds, the corsairs bring Medora and her friends to Draconovo, their hideaway island. The corsairs drink a toast to their safe return. Under the luminous moon, Conrad whispers sweet love to Medora, and Ali reaffirms his allegiance to the Band of Corsairs. 

Meanwhile, jealous of Ali's rapport with Conrad and enticed by the promise of gold, Birbanto decides to break his oath to his brothers and to serve the King of Margentos. He leads the Margentosian forces to Draconovo and attempts to murder Conrad in his sleep. But just in time, Ali halts the turncoat's blade. Conrad reminds Birbanto of his oath for the old friendship's sake, but Birbanto's heart has already hardened. In the end, Conrad's pistol aims at Birbanto. 

The Dawn with her golden iris lays her gentle gaze upon the island as if to console the bitter hearts. And the new day's Zephyr nudges the corsairs to set sail for another adventure.