Issued in 1963, this two color engraved design shows us Amelia Earhart in the foreground, and her Lockheed 10E Special "Electra" aircraft in the background. It was the Lockheed Electra in which Earhart disappeared along with her navigator Fred Noonan in 1937. Aviator heros and their aircraft are popular icons for airmail stamps the world over. This stamp combines both. Fittingly, the carmine and maroon colors match the color of the definetive issue of the day of the same denomination.
To learn more, consider reading Amelia Earhart : A Biography by Doris L. Rich.
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