Not a pilots badge but an air legion badge.
I dont like this one, take a look at the bottom rear, how the chess field point (i really dont know the word for this) is not pointed and it looks like it was struck from the sides.
These were high quality medals an this one looks a bit soft on the edges.
I hope im not right, these are rare things to find original and i saw only a few of them.
Last edited by LeonardoL; 12-20-2015 at 04:04 PM. Reason: Word edit
These are well made and came out of Austria maybe 20 to 30 years ago. I do not know if they are outright fakes or something like a "57" German Medal. I would lean towards an outright fake even though they are well done. The fakes are also done in enamel with a wide pin. An original is exceedingly rare and hard to find but walk around any large militaria show and you will find a number of fakes.
Emedals just sold an near identical piece for $850
A Rare German Made Croatian Air Legion Insignia - Armed Forces & Ustasha Badges, Awards, Other - Croatia - Europe
"Much that once was, is lost. For none now live who remember it."
Don't know for this particular badge, but that site sells lots of fake stuff.
I believe, this is a right badge, with enamel (no paint) and made of silvered brass, not white metal.
according to this thread on GMIC, a painted version (like this one form eMedals) could be good, too:
Croatian NDH air legion badge? Croatia WW2 airforce - Southern European & Balkan States - Gentleman's Military Interest Club