By Ray Massey and Rob Davies PUBLISHED: 13:46 EST, 11 December 2012 | UPDATED: 04:45 EST, 12 December 2012 The boss of British Airways’ parent company Willie Walsh has bet Sir Richard Branson ‘a knee in the groin’ that Virgin Atlantic will not survive five years. And Sir Richard has accepted the remarkable challenge – saying the painful debt will be paid out to the loser at the winner’s headquarters. The unusual ‘below the belt’ wager came after America's largest airline, Delta, took a 49 per cent stake in Virgin Atlantic under a major deal announced today. Sir Richard tried to bet Walsh £1million that his Virgin airline would flourish after the deal. But Walsh said he did not have the cash and offered the 'painful' bet instead.
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Billionaire Sir Richard Branson sells 49 per cent stake in airline to Delta
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America’s largest carrier will help keep Virgin Atlantic alive and take on BA
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Branson tries to bet BA boss Willie Walsh £1m that airline will flourish
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But Walsh says he hasn't got £1m and offers him 'knee in the groin' instead
The air-rage row erupted as Virgin boss Sir Richard announced he was retaining control of his airline @placeholder after a deal that will see America's largest carrier Delta Air Lines take a 49per cent  stake.
The latest twist began when Mr Walsh suggested Virgin would not survive the tie up with @placeholder.