Here is what you will be making...
Step 1: The Basics.
Fold your paper length wise and unfold again so you have a center crease. Woot!
Step 2: Some More Basic Folding
Use the classic folding style and fold the top corners into the center crease.
Step 3: A Little Trickier Now
Now fold the top triangle down the look an envelope. See the picture for more info.
Step 4: Ungh... More Basics
Peaches!!! Sorry, okay now fold the top two corners into the center crease like the second step. These basic steps are getting old.
Step 5: Teh Wings
To start making the wings, fold the entire plane in half on the center crease.
Step 6: Now for a Crazy Mathematical Equations That Involve Six Years of College Math
Fold the wings down about 4cm past the place where you hold the plane. Fwew! Glad that's over.
Step 7: Some More Crazy Math
Fold about 3cm of the wing down to form stabilizers. See the picture if this doesn't make sense.
Step 8: Yay
Here is the finished product... Have fun.