8th May cover franked 1929 2c, 5c, 10c, 20c, 50c & 1s 'Air' issue (SG 458/463) tied by boxed P.A.G.A.C. SERVICIO AEREO ECUADOR cancels. Addressed to FRANCE flown on the GUAYAQUIL - NEW YORK first flight with 'Ecuadorian Airways First Flight Guayaquil - New York Pan - American Grace Airways Inc' cachet. Legacion de Bolivia Quito cachet on reverse along with CRISTOBAL C.Z. transit cds. (Muller #18 rated 500pts)