This is a kit that has been around for quite a long time, and has been re-released lately. It launches as a rocket, and at apogee the engine pod is released which activates the swing wing and turns the rocket body into a glider.  The engine pod is recovered by means of the parachute.  Similar principle to the Shuttle system. 

The classic Estes Scissor Wing Transport rocket boost glider is back! This exciting bird was the first to introduce the revolutionary concept of Scissor-wing flight and recovery system. The Estes Scissor Wing Transport features SST styling, high flight reliability and is capable of flight times of more than 60 seconds. The power pod features vertical stabilizer fins and is recovered with a parachute.

Length: 23.4 in
Diameter: 0.976 in
Rotorspan: 16 in
Weight: 3.1 oz
Recovery: Glider and 12 in Parachute
Fins: Laser cut balsa
Maximum Altitude: 750 ft

Recommended Engines: B4-2, B6-2, C6-3