Captain Bailes was the pilot of a F9F-5 Pantherjet fighter with Marine Fighter Squadron 311, Marine Air Group 33, 1st Marine Air Wing. On 6 May 1953, while on a combat mission in bad weather, his aircraft ran out of fuel and crashed near Pohang Airfield (K-3).

Bailes was awarded the Purple Heart, the Korean Service Medal, the United Nations Service Medal, the National Defense Service Medal and the Korean War Service Medal.