For all the detail, Hughes comes across more as an icon than as a dimensional being, and by confining the biography to the limited time period, the story is rather constricted despite the hints of his sinking into a mire of fears about germs and contact with people. But DiCaprio’s performance and Scorsese’s brilliance make the film fascinating to watch. Solid supporting performances also help.

The early scenes establish Hughes’ determination and arrogance as he produces and directs the 1930 war film “Hells Angels,” for which Scorsese captures the aura of the air sequences so astonishing for the period. Later, one especially harrowing scene is the recreation of the plane crash in which Hughes was severely injured. Other important events covered include his making of “The Outlaw” which pushed the idea of how much cleavage could hit the screen, and his battle with Senate investigators, a confrontation boosted by the strong performance by Alan Alda as his nemesis, Senator Owen Brewster. Attention is also paid to Hughes’ development of the ridiculed Spruce Goose, a giant wooden plane that was only flown once.

Kate Beckinsale does a nice job playing Ava Gardner, but the real scene-stealing is by Cate Blanchett as Katharine Hepburn. It is difficult to do Hepburn in a natural way and at the same time communicate her recognizable manner and speech without descending to mimicry. Blanchett solves the problem, making Hepburn scintillatingly alive in the portrayal of her relationship with Hughes. However, it is a mystery why Gwen Stefani was cast for brief appearances as Jean Harlow, as she looks so little like the star to the point of absurdity.

John C. Reilly does well as Noah Dietrich, Hughes’ aide and confident, and Alec Baldwin is impressive playing Juan Trippe, who as the power in Pan Am tries his best to outmaneuver Hughes. The irony here is that both Pan Am and TWA later fell on hard times. Jude Law makes a brief appearance as Errol Flynn.