Pre-WW1 game, featuring the relatively new world of aviation where players traveled the globe on Wright Fliers, Bleriots and Bristol Box-Kites.
The game is not very 'new' in the sense that it is a Goose-type race game. Move according to the die, obey instructions of every special square and the first to 'fly' around the world from London to Windsor Castle, wins.
As a side observation, space 20 foretold events that would happen 100 years later "New York, collides with a skyscraper, back to 8".
A different version of The Aerial Derby game came as one of a trio of games from Chad Valley's Kompactum Edition. The game probably came boxed with two other Chad Valley games being 'Rescue' and 'Loco' as the long narrow board dimension in the Kompactum Edition is identical to the Rescue game and exactly half that of Loco. The other two games are listed separate.