That is it. It's all in the title. Like nearly half of the other ships in the game, the Krait is named after a type of snake. The pronunciation of that snake is KRY-t, not KRAY-t; it's not a crate, like a box. Do with this knowledge as you will.
Edit: because I knew people would get butthurt about this.
It's pronounced kraɪt ( krīt ) [if someone has a subscription to the Oxford English Dictionary, I'll hear a counterpoint. But this doesn't appear to be regional; there is just a correct and incorrect way to pronounce the word.
