In an interview for a two hour programme to be aired in Russia, the leader is reported to have received a stern warning that a man with a bomb was threatening to attack the Sochi Winter Olympics.
A phone call from security officers explaining the potential threat was received shortly before the World event’s opening ceremony.
The Russian President said in the interview: “I was told: a plane en route from Ukraine to Istanbul was seized, captors demand landing in Sochi.”
Pilots from a Turkish Pegasus Airlines Boeing flight, which had 110 passengers on board, reported that a man had a bomb and the plane was heading towards the Sochi stadium.
The flight from Ukraine was due to travel to Istanbul.
On hearing the information, Putin reportedly told his security officials to prepare to shoot down the plane.
He said: “I told them: act according to the plan.”
Both Putin and International Olympic Officials were due to arrive at the Opening Ceremony shortly afterwards.
However, shortly after giving his command the Russian leader took a second call.
This time security officials informed Putin that the incident was a false alarm.
The passenger on the plane was drunk and had caused the alarm unnecessarily.
Putin’s order to shoot down the plane was rescinded and the plane continued on its originally planned flight path.
The interview with the leader of Russia was given ahead of the country’s Presidential election.
Putin is expected to win the election and serve as the leader for a third consecutive term.
Russian opposition leader Alexei Navalny could face up to 30 days behind bars for illegally organising a rally in Moscow at the end of January – meaning he could spend the election in prison.