Cover franked with 1922 ½c green, 1929 15c violet AIR issue & 1933 1c on 3c light blue and 3 x 2c on 10c chocolate (SG 465, 629, 749 & 751) all tied by boxed CORREO AEREO MANAGUA cancels. Addressed to UK with nice blue 'Flying Boat' airmail label inscribed 'POR CORREO AEREO PAN AMERICAN' at top left.