As said, AirPlane mode turns off all wireless features when activated. This includes Wifi, Bluetooth and Cellular.
From Apple's own Support document: Use Airplane Mode on your iPhone, iPad, iPod touch, and Apple Watch - Apple Support
Airplane mode turns off the wireless features on your device so that you comply with airline regulations.
There's a exception however as explained in the link above:
Apple wrote:
If you turn on Wi-Fi or Bluetooth while you're in Airplane mode, they will be on the next time you use Airplane mode, unless you turn them off while in Airplane mode.