VIRGIN boss Richard Branson has bet British Airways (BA) £1m that the Virgin Atlantic brand will still be around in five years.

Mr Branson dismissed suggestions from Willie Walsh, chief executive of International Airlines Group, which owns BA, that the brand would soon disappear.

The Virgin boss also denied rumours he was about to sell some of his 51 per cent stake.

Recent reports suggested that Delta Airlines had offered to buy Singapore Airlines’ 49 per cent stake in Virgin Atlantic.

As part of that deal, Delta’s European partner Air-France- KLM would then buy some of Mr Branson’s stake, paving the way for the Virgin brand to disappear from the airline, the reports said.

Mr Branson said that instead of suing BA for Mr Walsh’s comments, he would bet £1m, to be distributed to either Virgin Atlantic or BA staff, that his airline brand would still exist in five years.

“Virgin Atlantic was my baby 28 years ago when we set up with just one plane,” he said.

“Like all children, they never really stop being your babies and Virgin Atlantic is still much cherished.”

The offer came on the day that Virgin Atlantic announced details of a shorthaul business to compete with British Airways on routes linking London’s Heathrow airport and Scotland.

There has been a long history of spats between BA and Virgin.