Sir Richard Branson demands BA chief settles bet over Virgin’s future

Sir Richard Branson has fanned the flames of a longrunning feud with the chief of British Airways, calling on Willie Walsh to settle a “very public and painful” £1 million bet.

The billionaire founder of Virgin Group is claiming victory after pitching the wager to Mr Walsh in 2012 that Virgin Atlantic would still exist in five years’ time.

However, the chief executive of Ba-owner IAG has refused to cede defeat, claiming the entrepreneur was the loser because he no longer controlled the business after giving 0 Sir Richard Branson thinks he is due £1 million up majority ownership earlier this year.

The initial terms of the bet were for the loser to pay a £1m bonus to the rival airline’s staff.

Writing on his Virgin blog, Sir Richard said it was time for the pair “to settle this matter once and for all”.

“He bet that the Virgin Atlantic brand would disappear within five years,” Sir Richard wrote. “I disagreed.

“He said that the loser should accept a ‘knee in the groin’. Although people might be amused to see me give Willie a low blow, I ideally have no wish to do so.

“So to settle this matter once and for all, and in the spirit of Christmas, I suggest he donates £1 million to Virgin Atlantic’s team.”

Sir Richard claims the spat harks back to 1993 when BA was forced to pay £500,000 following a libel battle.