Good game. Only thing I don't understand is why balloons hurt your spaceship. Instead of balloons, it should be airplanes or something that could actually pose a risk.
Other than that, good game.
For your 'first' game its very complete and polished. I liked the GUI style that you chose and the principle mechanics of a launch game are all here and working. I enjoyed the extra bonuses that you earn for various accomplishments during flight.
However, I discovered that the "break your altitude record" bonus could be abused for fast cash. You simply break your record height and crash your ship, each time only setting a slightly better record to beat each time. I had maxed all customizations before reaching the hot air balloons. I probably stole some of the enjoyment out of the game doing it that way. But be warned, if there is a way for a user to take advantage of the game despite lessening the fun, they will do it.
I recommend that in the future, you set certain altitude goals where the user gains a bonus for achieving a specific height or distance. That way the goal itself cannot be abused. I was disappointed that there was no bonus for crashing into the whale next to the island.
The only disadvantage this game has is that it's the same as others on the web. Try to add something unique into yours.
Good launch game. Well programmed.
Just have to say that wings don't actually give any maneuverability at all. They just increase the speed in which you can rotate your craft. Beyond half way the ship becomes so rotation sensitive you start to have less control over it because the wings do nothing for changing your inertial direction as maneuverability would imply.
Still managed to outrun the Ski Free ASM for a good 5 minutes though before my tanks dried up.
I dunno why I keep playing these build-your-own-space-buster games... I used to have a favorite one but I don't remember which one was it... meh, there's probably tons of 'em down there in the comments, may be one of them.
Cute stuff, loved the cheese's wtf sound, just as other random surprises, then enough physics for the player to give it the "I hate you" look (in a good way), carry on :)