iFly always gets its time "externally" from the device it's running on. Most cell phones default to having their time set by the cell carrier, so when your phone turns on and joins the carrier's network, it will get a time signal from the tower. Since the tower knows its physical location, most phones also default to having time zones and daylight savings time settings automatically handled by the network.
Whatever time issue you're having with iFly running on your cell phone, you'd be having with any app that uses your cell phone time (alarm clocks, etc.).