Here's a wonderful Spanish 1939 airmail featuring Juan de la Cierva and his autogyro flying over Madrid. It is presently stuck on an old album page, but will be soaked off soon.

My question is in regards to the word Correo stamped over the word Aereo. Is that a cancelation or an overprint, possibly converting this airmail to regular postage. Can't seem to find it in the catalogue.
Many thanks.