Cover franked with 1932 'Correo Aereo OFICIAL' overprint issue, the set of five 15c vermilion, 20c orange, 25c violet, 50c green and 1cor yellow (SG O688/O692) tied by boxed CORREO AEREO MANAGUA cancels dated JAN 17 1933. Sent airmail to GUATEMALA with arrival cds on reverse.