06/09/2010 11:03 am ET Updated May 25, 2011

Moscow Aviation Firm Unveils 'Flying Car' (VIDEO)

A Moscow-based aircraft construction company claims to have developed a state-of-the-art alternative to waiting out traffic jams -- a "flying car."

Dubbed the Sigma-5, the compact airplanes are small and light enough to operate like a large car. Comparable in price to a luxury automobile, the Sigma-5 aircraft are so small, they merely require flat surfaces -- in lieu of airport runways -- for takeoff or landing. Each plane has enough propulsion to carry about 600 kilos of weight at a speed of approximately 300 kilometers per hour.