Cover franked with 1924 pair 200rs rose red 'Industry' issue, pair 1929 200rs carmine 'Santos Dumont' AIR issue and 2 x 1927 300rs on 500rs black & yellow orange 'SERVICIO AEREO' overprint issue (SG 357, 470 & 445) tied by PORTO ALEGRE CORR. AEREO cds's dated 12 III 1931 with SYNDICATO CONDOR LTDA PORTO ALEGRE transit cds on front. Addressed to GERMANY with CORREIO AEREO RIO DE JANEIRO transit cds on reverse.