In fifth (?) grade we had a paper airplane contest at school. You made an entry for distance and one for duration. My duration design was very similar to the one you posted but was folded differently so that you didn’t have that bit of a flap on the one side. Otherwise the shape and idea is the same.
Mine flew about three times longer than any other. The roll of Life Savers was mine. 
Didn’t do as well in the distance competition.