Cover with typed 'VIA AEREA Panagra' at top franked with single 1924 1s bistre (SG 439) tied by LIMA cds dated 9 MAR 1931. Sent airmail to USA with oval 'CORREOS DEL PERU EXPENDIO LIMA SERVICIO AEREO' marking on reverse with small circular 'IV' marking both in purple. A nice early commercial airmail.