On Friday, a Brazilian newspaper Folha de S. Paulo gave details to David Neeleman's plans. Neeleman was the creator of commercial airline company JetBlue Airways Corp. The newsprint reported he was assembling a $3.2 billion venture fund to regain power of the company and buy TAP, a Portuguese airline.

At present, Neeleman have possession of a Brazilian airline called Azul Linhas Aereas. He negated the said plot, telling Folha de S. Paulo "I always think about things we can do, but at this moment, I am focused on Azul. It is not true that I will buy TAP or JetBlue."

An increase in shares of JetBlue transpired at about 4.4% to $6.35. When asked for a statement, its representative said the firm does not remark on hearsay.

In relation to the report which did not name the informants, Azul shareholders would take part in the plan while Brazilian state development bank BNDES would give about $600 million for a 20% interest in the funds. The report further that Neeleman would provide 5% of the fund's total.

BNDES spokesperson declined to comment. Azul representative, on the other hand, refuted the report.