In September, 1943, King Victor Emmanuel surrendered Italy to the Allies. Germany almost immediately attacked Italian forces and quickly defeated them. Most of Italy was occupied by German forces. Italy became divided into 2 parts and their air force was also split. The Italian Co-Belligerent Air Force was aligned with the Allies in the South. The Aeronautica Nazionale Repubblicanna in the North of the country became pro-Nazi.
This poster is a self-congratulatory homage to the military valor of the pro-Nazi Aviation fighters.
There is minor tatting at the right extreme edge not affecting the image area.