The Paravelo is a flying bike created by a British company called XploreAir. Its a combination of a bicycle, flying machine, and camping tent all built into one device. It can be taken apart and used as just a bike, or it can docked to its trailer with a flexible wing and biofuel-powered fan.
The flying bicycle is on Kickstarter and the company is trying to raise £50,000 to further develop the project.