This issue marks the first flight across the South Atlantic, from Lisbon to Rio de Janeiro, that took place the year before to commemorate the centenary of Brazil’s independence in 1822. The stamps depict the President of Brasil at the time of the flight, Epitácio Pessoa, above Rio’s Pão de Açúcar, the President of Portugal, António José de Almeida, above Lisbon’s Tower of Belém, a caravel below the year of the discovery of Brazil (1500), one of the three Fairley III seaplanes used below the year of the flight (1922), and in the centre navigator Gago Coutinho (left) and pilot Sacadura Cabral (right).
The issue was financed by banker António Carneiro de Vasconcelos and doctor Leandro Menezes Camacho for philatelic speculation. Of the total print run listed below, they received 125 thousand copies of each stamp and the rest was distributed to post offices.
The stamps were lithographed by Waterlow & Sons, London, on wove paper sheets of 10×10 stamps with line perforation 14, and circulated on 30 March and 1 April 1923 and 6 to 8 September 1924.