|February 02, 2000|
FLIGHT TIME CORPORATION TO CREATE GLOBAL AVIATION NETWORK NAMED FLIGHTTIME.COM
|Flight Time Corporation, today announced it will acquire Wyvern Ltd., an industry leading safety and compliance auditing firm, and MACH-1 Software Corporation, a provider of aviation software, and rename the new company FlightTime.com.|
With these acquisitions, FlightTime.com will integrate global aviation supply and distribution to create an end-to-end network built on a single, intelligent system via the Internet.
FlightTime.com also announced it has received substantial financial backing from Southeast Interactive Technology Funds (SEI) and BancBoston Venture to fund the company's rapid growth, extensive future technology investments and commitment toward the marketing and distribution of charter going forward.
FlightTime.com will create the first, audited global aviation network by leveraging the well-known safety and superior technology components associated with Wyvern and MACH-1 with the company's existing e-commerce site, AirCharter.com.
Wyvern Ltd. will operate independently of FlightTime.com as a wholly-owned subsidiary. Wyvern consults to the aviation industry on matters related to safety, and publishes a report of independent safety evaluations of on-demand charter operators.
MACH-1 Software Corporation develops and sells advanced software products for the general and business aviation markets.
FlightTime.com, the global aviation network previously named Flight Time, specializes in providing premium services to business and leisure travelers, sports teams, corporations, and meeting and travel planners worldwide since 1985. AirCharter.com, owned and operated by FlightTime.com and to be re-branded under the new FlightTime.com name, was the first online air charter reservation system.