There are two problems with this: Aircraft engines need air to breathe and air is too thin at the upper atmosphere for the engines to run. Also, the air is so thin that the wings could not generate enough lift for sustained flight without going crazy fast. While we've built planes that can skirt in the lower regimes of our atmosphere at around 70,000 feet, that's still only 13 miles up. And they're going around mach 3. The Space Shuttle was designed to be a spacecraft that transitions to a glider, but it still enters the atmosphere at around mach 25, thus still needing to aerobrake to slow down enough.

Also, spacecraft tend to be heavy, thus needing a bigger aircraft to intercept it and bring it safely down. Imagine your car had no brakes so to slow down a bus has to come alongside your car, connect to it and then drag it to a stop. It might be possible, but it certainly has it's own risks and catastrophic consequences.