I think this was actually calles "The Air Car Hovercraft". I googled it and found an image.

I think this hovercraft was called Phantom Four. It was white with blue and red stripes. I have not been able to find any info on the net. Any ideas on the manufacturer?

I had this too - it is driving me CRAZY, trying to find more info on it. I think the docking station used a 9 volt. Yoda (the smallest action figure I had) was still too heavy to carry, so it pretty much operated by itself, once launched. It would be 1980 or so that I had this toy. White plastic - I too remember it as the Phantom 4 (or fantom 4, maybe?). MAN I hope someone IDs this thing eventually. I have no idea where it came from - for all I know, my grandmother purchased it at the Navy PX and it's some strange "overseas" toy that never made a splash in the pop culture collective mind. But it is indelibly marked in mine...

Oh - and I don't think it was 12" across... I think it was smaller.

I found this page while looking for info on a toy I got Christmas 1979 - it may be what you are talking about. See the photo labeled "history of a geeky girl 1" on my Flickr account. Doesn't seem to be alot of info out there about it.

It WAS called Phantom Four!

It is called "Fantom 4 Hover Craft" It was made by Schaper toys Minneapolis MN in 1979. maker of the original Cooties game(they were Later acquired by TYCO. I know this because I have one and its original box with sticker sheet. Thinking about throwing it on eBay.

I had one to. I try to exsplane it to my kids how it hovered across the floor. They really dont care though. Anyone no if an atari still in the box with games pong,combat,frogger and pitfall exset. is worth anything

I have one, but it is missing parts and I think the rechargable battery in the hovercraft is dead as it won't take a charge. Thinking of tossing it.