Airmail cover franked with 1922 2c carmine, 1929 1c orange with 'R. de C.' overprint and 25c violet 'P.A.A.' AIR overprint issue (SG 467, 605 & 616) tied by boxed CORREO AEREO MANAGUA cancel with large blue & white 'CORREO AEREO' label alongside. Addressed to USA.