I managed to get everything working as expected on Windows 7 64bit, So threw together the below step by step guide

Please enjoy!


Unpack Airline.Tycoon.2.with.Working.FLT.Crack.and.Update.to.1.27/Airline.Tycoon.2.v.1.00/flt-atc2.001 - I used IZArc
Which will then give you flt-atc2.iso, once again i used IZArc to inspect the contents / mount and install
Once Mounted in the root of flt-atc2 you will see a folder called FairLight, Copy this to your desktop for future use.
Run the installer
While Airline Tycoon 2 is installing edit your Hosts file > \Windows\System32\drivers\etc\hosts (with Elevated Privileges / as Administrator)
add the following 2 lines


save the file and then for shits and giggles sake open Command Prompt and run ping launcher01.kalypsomedia.com
Your reply should look something like this ---> Reply from 127.0.0.1:
If it doesn't say 127.0.0.1 STOP and check your modification to the hosts file, Dont forget to save it once your done.
I have found if the hosts patching isnt done properly before launching Airline Tycoon your going to have ALOT of work cleaning up bits and pieces after Kalypso flags your install for pirating.

Once the Install is complete and you've successfully tested your Hosts file patch was successful, Copy the file KalypsoLauncher.dll from the FairLight folder you copied to your desktop to the root of the install directory, If you didnt change anything it should be located in ProgramFiles/Kalypso Media/Airline Tycoon 2

Over right the file that exists and then run the program, With luck it will work as expected, If so quit the game and run the update,

Unpack AirlineTycoon2.Retail.Patch.v1.27.DE.EN.FR.zip and run the enclosed update, After this re-copy the KalypsoLauncher.dll to the install directory as before and you should be done and dusted!

Enjoy!