From Scarab Aviation Labs based in Russia comes the Begalet - Universal Personal Transport.
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It can be used on land, water and snow (with modification) and it can fly!
The craft weighs just 55Kg's when empty and can reach a maximum speed of 80kph on land and up to 160kph in the air (according to some reports). It seems to be a motorised paraglider but Scarab also have some fixed wing versions in development.
It uses a parachute in case of emergency landing when airborne and a bouyancy device to stop it sinking when on the water.
The engine delivers just 30hp with a range of up to 400km so it should be quite economical to run as well.
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