Issued during the Spanish Republic in 1938, this striking airmail stamp commemorates the 40th Anniversary of the Asociación de la Prensa de Madrid (Madrid Press Association). Printed by Waterlow & Sons Ltd, it features a bold red-orange design with an eagle and wing motif symbolizing communication and the freedom of the press. The background depicts stacks of newspapers, further reinforcing the theme of journalism. Denominated at 40 céntimos, it reflects the turbulent era of the Spanish Civil War, making it a highly collectible piece of postal history. An excellent addition for collectors of Spanish airmails, press-themed issues, and Civil War philately.