...
The numbers are right, but the units not.
Good catch.
Yes, if you are accelerating in a straight line in free space. Sadly this case is a bit more complicated. We are accelerating in a spiral around the planet, carefully maintaining the correct orbital speed for the current height.
It resolves into "going up" and "going sideways" since centripetal acceleration is effectively free, for amounts up to 1G.
The ascent track (in an external reference frame, not with respect to the planet's surface) isn't a spiral. It's a vertical ascent (wavy at the very bottom due to wind drift), which turns at about halfway up from vertical into a curve that's tangent to the orbital path, then follows the orbital path while accelerating the rest of the way to orbital velocity.
The first 515km of ascent (drag-limited below 30km, of course) is straight up. The next 485km (altitude) are a curve tangent to the vertical and to the 1000km altitude orbit, as the vertical vector decreases from 990m/sec
to zero
and the horizontal vector increases to 990m/sec
At this point the Air/Raft is at orbital altitude and following the orbital track, but has only about 1/8 orbital velocity. It will need almost full weight neutralization to maintain this altitude in this condition. However, it's still accelerating and will reach orbital velocity about two hours later. Over the course of those two hours, altitude is kept constant by gradually decreasing the weight neutralization toward zero.
I suppose you could use a "spiral" track. Vertical ascent
above atmosphere would then be "accelerate upwards for 139 seconds (to 500km/h), then coast with full weight compensation (no weight) for two hours while accelerating laterally at 0.1G, then kill the vertical vector by turning off the weight compensation for 13.9 seconds".
This would let you start the horizontal acceleration sooner, saving 15 minutes.
Then again, if you're starting to accelerate sideways/up at 100km altitude instead of straight up, the Air/Raft might hit its (air density adjusted) drag limited airspeed before the atmosphere thins out enough with altitude... could knock off a few minutes of the time savings.