A ground effect vehicle comprising a fuselage, a wing assembly (4, 5), an engine assembly comprising one or more engines or engine sets (6, 7, 8), and a hull for enabling floatation of the vehicle; wherein the wing assembly (4, 5) comprises positionable stabilizer wings and/or the one or more engines (6, 7, 8) are equipped to provide an airflow departing from the engines (6, 7, 8) which is directable in one of multiple directions, a first direction of the multiple directions which is arranged to generate lift for vertical take-off purpose, and a second direction of the multiple directions which is for horizontal cruise flight in and out of ground effect, wherein the vehicle has apertures to enable passing of air propelled by the engine assembly when the airflow departing from the one or more engines (6, 7) is directed in the first direction, wherein the engine assembly (6, 7, 8) comprises a forward propulsion engine set which is located inside the fuselage or on forward wings/canards of the wing assembly (4, 5), and an aft propulsion engine set which is located on a main wing of the wing assembly (4, 5), and a secondary thruster or thrusters to control three-dimensional motions of the vehicle, wherein the one or more engines are rotatably mounted on the fuselage and on the wing assembly (4, 5), wherein during cruise flight when the stabilizer wings and/or the airflow departing from the one or more engines is directed in the second direction, said second direction of the airflow departing from the one or more engines is tuneable sc as to arrange for controlling movement of the vehicle in roll/pitch and yaw directions, and the apertures are closable so as to prevent airflow from a lower side to an upper side of the vehicle so as to optimize horizontal cruise flight of the vehicle. wherein the wing assembly (4, 5) comprises positionable stabilizer wings and/or the one or more engines (6, 7, 8) are equipped to provide an airflow departing from the engines (6, 7, 8) which is directable in one of multiple directions, a first direction of the multiple directions which is arranged to generate lift for vertical take-off purpose, and a second direction of the multiple directions which is for horizontal cruise flight in and out of ground effect, wherein the vehicle has apertures to enable passing of air propelled by the engine assembly when the airflow departing from the one or more engines (6, 7) is directed in the first direction, wherein the engine assembly (6, 7, 8) comprises a forward propulsion engine set which is located inside the fuselage or on forward wings/canards of the wing assembly (4, 5), and an aft propulsion engine set which is located on a main wing of the wing assembly (4, 5), and a secondary thruster or thrusters to control three-dimensional motions of the vehicle, wherein the one or more engines are rotatably mounted on the fuselage and on the wing assembly (4, 5), wherein during cruise flight when the stabilizer wings and/or the airflow departing from the one or more engines is directed in the second direction, said second direction of the airflow departing from the one or more engines is tuneable sc as to arrange for controlling movement of the vehicle in roll/pitch and yaw directions, and the apertures are closable so as to prevent airflow from a lower side to an upper side of the vehicle so as to optimize horizontal cruise flight of the vehicle.