Cover franked with single 1929 10c brown AIR issue (SG 460) tied by LATACUNGA cds dated 28 FEB 1932 with green airmail label alongside. Flown on the LATACUNGA - GUAYAQUIL first flight with illustrated first flight cachet in black & 'Avion Ecuador Latacunga - Guayaquil' handstamp in violet. Addressed to GUAYAQUIL with arrival cds on reverse. (Muller #88, 352 covers flown)