Unknown 1940s? Bulgarian AF? Officer Cap Badge

This is an unidentified badge, probably a hat badge, which looks to date from the late 1940s. It could possibly be for wear by a Bulgarian Air Force officer. The badge is in bullion and shows a lone bird flying above a white, green and red enameled cockade.

Circa late 1940s(?).

Approximately 2-1/4" in height and 1-7/8" in width.

Wool felt embroidered in bullion thread, enamel, treated backing.

Brads.

None.

This is from an accumulation of unidentified items which we will be listing more of over the next few months. CON-DMM-2513 LX8/13 LBGEX1/16 RET10/16

7 (Very Fine): The badge has some light wear and tarnish.

As with all my artifacts, this piece is guaranteed to be original, as described.