A toy airplane with foldable wings. The wings can be folded before being launched by a launcher. When the toy airplane is launched the wind pressure maintains the wings in the folded position. When the toy airplane reaches a certain reduced speed, springs of the toy plane move the wings back into an unfolded position. Movement of wings into the unfolded position closes a switch and powers a propeller of the toy plane. The propeller can be powered by a battery within the toy plane fuselage. The combination of a motorized propeller, switch and folded wings provides a toy airplane that minimizes drag during launch and allows for extended flight after launch.