Flying speed?

[theoremtank]

This may be a dumb question but here goes...

I'm looking at the stat block for an owl familiar and it lists its fly speed as 40ft (average). Do flying creatures have an ability the equivalent of a land creature running? That is, can a flying creature move x4 its base flying speed in a round?

 

[Dr. Zoom]

MM, page 7, Creatures can use the run action while flying, provided they fly in a straight line.