Once you’ve conquered land there’s only one place to go: up! And no, we’re not talking about the Oscar winning animated film from 2009. According to a report from Movieline, Pixar is looking to capitalize on their upcoming sequel Cars 2 by developing a spin-off. The film will be called Planes and it will take place in the big, blue sky.

Cars has become a merchandising phenomenon for the studio raking in profits from toys, DVDs, apparel, you name it and they’ve found some way to make money off of it. Therefore, the summer 2011 release of Cars 2 will be the prime time to kick-start their next project. Planes is said to be a direct-to-DVD tie in to the film. They claim that Toy Story 2 and 3 were originally supposed to be released in such a manner but we see how that played out.

Planes presence on DVD shelves is the perfect way to make money on the side without distracting the consumer from the big screen appeal of Cars. They can have both audiences flocking in totally different mediums. We wonder how they’ll tie in the two projects? Maybe there will be cameos from various cars and voices. Do you think Owen Wilson will pop up for some dialogue?

Are you interested in seeing planes? Are you excited about Cars 2?