iPad Air Smart Case
If you want the official Apple Smart Cover but with back protection, check out the iPad Air Smart Case. This is essentially a Smart Cover with a back.
One other change is that this is a leather case, not polyurethane like the iPad Air Smart Cover. This is also available in six colors including (Product) RED. The case folds open to offer a typing angle and a landscape viewing mode for watching movies and video chat.
$79 at Apple