Two examples of early cultural references. the movies is set during the Bosnian War, which ended in 95. During the first aborted launch of the aircraft, the two guys are talking about wishing Britney Spears was with them. While she was a well known child star at the time, she was only 14 at the end of the war, and didn't become a sex symbol till the late 90's.
When the guys use the catapult to launch the football into the air and try to catch it, the ball flies off into the water. Owen Wilson shouts in mock despair - 'Wilsonnnnn!!!', mimicking Tom Hanks despair at losing Wilson in the 1999 movie Castaway