Plain English Meaning
The aircraft has a working VHF radio that the pilot can use to talk to controllers and other pilots by voice.
Full Definition
A two-way voice communication capability using radio equipment that transmits and receives in the Very High Frequency band (30–300 MHz), which is the standard band used for civil aviation air-to-ground voice communications between aircraft and air traffic control.
Context Anchor
Seen in flight plan equipment codes, where it tells the flight planning system and air traffic control what the aircraft has.