Flying Aces is a cancelled flight simulator / shooter set in the first World War, that was originally in development by Rocket Science Games for the Sega 32 X in 1994 / 1995. As we can read in GamePro #68 (thanks to Celine for the scan!), the gameplay was depicted with live action FMV and included multiple views from both inside and outsite the aircraft.
Only few screenshots remain from the 32X project and when the Sega Add-On was already dead, it seems that RSG tried to port the game to the Saturn (scan from Cd Consoles #4), without any luck. Neither version of Flying Aces was ever released.
Unfortunately, while some Rocket Science’s games were critically acclaimed, none of them did particularly well financially, and unable to secure additional funding, RSG was forced to close down in 1997. [Info from Wikipedia]