Dima is given an old Volga car for his birthday, and is unimpressed, especially as his wealthy friend Max hooks up with the girl he likes.
However the Volga can fly thanks to the nanocatalyst developed in secret by scientists. Prof. Kuptsov is after the nanocatalyst to drill for diamonds and disregards the danger he will put Moscow in.
Dima saves Nastya by using his father's signal to get Nastya to jump out of Kuptsov's car, flies in to rescue her and makes Kuptsov follow him into the stratosphere where he runs out of fuel and floats into space. Dima uses the Volga's emergency parachute to land safely.
Dima ends up with Nastya, and as they kiss, the now sober drunk man (having seen the flying car so many times and believing he was hallucinating and needed to turn his life around) encourages his friends to get out and exercise.