This photo is often shared with the following caption:

A German pilot ejects from his burning Albatros biplane after being shot down over enemy lines during WWI (1916).

This photo is a fake from early 1930s. The hoaxers actually created a series of fake dogfight photos using model aircrafts and wires. The hoax was debunked in 1984.

More details: Faked photos of WWI aerial combat that really had people fooled by Slate magazine