This is not even a plane…. technically it's a boat. and it "Flies" just above the water.

Called a ground effect vehicle

WTF is that thing? A boat or a plane? The russians had theses planes that flew on the water surface in “ground effect” – is it one of those?

Does anyone know the name or model of this aircraft? I imagine its Russia

http://www.google.com.hk/imgres?q=ground+effect+v…

This website has the full story and decent pics of the craft