AirCharter.com &a; FlightTime

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City: Boston

State: Massachusetts

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Country: United States

FlightTime.com, formerly Flight Time Corporation, becomes The Global Aviation Network with the acquisition of Wyvern Ltd. and Mach-1. Since 1985, FlightTime.com has specialized in providing premium air charter to travelers worldwide. FlightTime.com’s expert knowledge of global air transportation has made us the leading provider of air charter services worldwide. FlightTime.com’s extensive presence with offices in Boston, New York, Washington D.C., Atlanta, Miami, San Francisco, Los Angeles, London, Amsterdam, Bremen, and Milan puts us in a unique position to ensure that even the most complex travel missions, whether domestic or international, are a success. LAS VEGAS, NEVADA, February 2, 2000 Flight Time Corporation, the global leader in air charter, today announced it will acquire Wyvern Ltd., an industry-leading safety and compliance auditing firm, and MACH-1 Software Corporation, a provider of aviation enterprise management software, and rename the company FlightTime.com. FlightTime.com will leverage the well-known safety and superior technology components associated with Wyvern and MACH-1 with the company’s existing e-commerce site AirCharter.com to create the first, audited global aviation network. FlightTime.com also announced it has received substantial financial backing from Southeast Interactive Technology Funds (SEI) and BancBoston Ventures to fund the company’s rapid growth, extensive future technology investments and commitment toward the marketing and distribution of charter going forward. “Until now, the charter industry has lacked a single one-stop resource to find and book aircraft from an aviation network, ” said Robert McBride, president of FlightTime.com. “With these acquisitions and new funds, FlightTime.com will integrate global supply and distribution to create an “end-to-end” network built on a single platform, providing real-time access to a global fleet of audited aircraft residing on a single, intelligent system via the Internet.” The acquisition of Wyvern Ltd. is one component of FlightTime.com’s move to create a seamless and fully integrated solution for the aviation industry by using the company’s extensive expertise and objective information on the safety, quality and service of specific aircraft and operators on four continents. The comprehensive standards of performance provided by Wyvern cover areas of operations, auditing, management and administration, flight operations and maintenance. Wyvern Ltd. will operate independently of FlightTime.com as a wholly-owned subsidiary. “Wyvern reinforces FlightTime.com’s commitment to providing a world-class aviation solution,” said Walter Lamon, III, president of Wyvern Ltd. “They intend to extend the network aggressively over the next eighteen months as part of their goal to create a fully audited network.” “Incorporating Wyvern data into the FlightTime.com business is an important step in their ability to offer global access to the most credible and reliable safety information in the aviation industry, ” said Jane McBride, founder and chief executive officer of Flight Time. “Their clients depend on operators cleared by Wyvern, which is synonymous with quality, safety and reliability.” MACH-1’s advanced technology and design will provide the technological infrastructure for FlightTime.com. MACH-1 is the most advanced software product available to the general and business aviation market that integrates a variety of complex aviation software functions into a seamless system, increasing productivity, supporting extensive business and industry intelligence, and eliminating data-entry duplication. With the acquisition, FlightTime.com has purchased the exclusive global aviation rights to use Visual Knowledge™, the proprietary development platform upon which MACH-1 is built. The unique design of FlightTime.com’s web-based program will allow operators using the network to book aircraft from other operators participating in the system.

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