A vertical take-off and landing (VTOL) aircraft is designed to be so efficient that it can be commercially competitive with runway dependent aircraft operating in a range of 100 to 1000 miles or more, with glide ratios of at least 24. Improvements include a combination of high efficiency tilting rotor and wing design that enable both vertical takeoff and efficient high speed cruising, a high aspect ratio wing, and a variable speed propulsion system efficient in both hover and cruise flight. Preferred aircraft use narrow chord inboard and outboard wings, and use efficient lightweight design to achieve unusually low empty weight fraction. In some embodiments, the rotors use medium rather than high modulus fibers, with wider blades of lower taper ratio, to provide the stiffness and mass properties required for high performance OSTR rotor blades. Also disclosed are VTOL aircraft with glide ratios from approximately 26 to over 40.