2 Beaufort bombers collide - Jervis Bay 14 Apr '43
Looks like lack of communication between them and when to pull up. Sad accident.
Here is information on the accident: http://home.st.net.au/~dunn/nsw29.htm
It looks like as they did their fly by, they were doing a maneuver called a pitch-out. You do a formation high speed pass and "pitch out" where you pull up and turn to slow down at an atitude usually 1500 feet above ground level. This is done to either get in a downwind for a landing or to regroup in a formation in the opposite direction. It looks like guy on the right should of pitched first based on his position in the formation.