http://www.cnn.com/2013/06/20/tech/innovation/worlds-first-flying-bicycle/index.html?hpt=hp_c4

The flying bicycle looks like a conventional bike connected to a
lightweight trailer, which houses a giant fan, fuel for the contraption's engine
and the flexible fold-away wing. Both the airframe and bike are made from
aircraft grade aluminum.

The bicycle can be disconnected from its trailer for inner city use, then docks
to form a 'para-trike' for take-off. In order to fly, the bike and trailer are
fastened together, the wing is unfurled and an electric starter fires the
biofuel-powered 249cc motor. Tired Tour de France competitors might want to
consider this option before taking on a particularly daunting hill climb.

The Paravelo needs a long stretch of open ground, clear of obstructions for
takeoff. Once airborne, it can stay in the air for up to three hours. Once it's
in the air, the flying bicycle's inventors say that it controls like a
conventional fan-powered paraglider.

Thanks to Kinsley Sykes