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 MANAGUA cds dated MAY 15 1929. Flown on the Managua - Miami, USA first flight with first flight cachet in purple on front and signed by the pilot 'C. D. Swinson'. Addressed to USA. A scarce flight. (Muller #4, rated 2000pts)