Hi Andonio,
there is a big wihle I am interested in Eugène Bullard His entiere life is amazing.
There is e french book about his story too:

I will send you the pictures I collected about his story..
Of course, no picture about his SPAD, There is not (by the moment).
Anyway I don't think the personal marking could have this appearence.
Too modern, the draw same the texte font/
We know he wore a red heart bleeding with a crossing spade.
but as we have no picture of it , we must imagine it more stylised I think , more "art nouveau", according with the period.
This one, more stylised, could be more probable in my opinion.

We have to find another font not an Arial one wich is a nowadays font...