Cover franked with 1929 25c brown purple 'P.A.A.' AIR overprint issue, 1929 2c on 5c blue & black and 1928 1c plum TAX issue (SG 614, 609 & 604) all tied by oval MANAGUA cancels dated MAY 17 1929. Flown on the MANAGUA - NEW YORK flight with first flight cachet with green 'Scadta' style airmail label applied over part of the cachet and circular 'CORREO AEREO DE NICARAGUA MAY 17 1929' cancel in black alongside. Addressed to USA. A scarce flight. (Muller #4, rated 2000pts)