Sir Richard Branson will serve on Tony Fernandes' AirAsia airline © Getty Images Enlarge

Sir Richard Branson will serve as an AirAsia stewardess in May 2013 having arranged to honour his bet with Tony Fernandes.

The pair agreed in 2010 that whichever of their teams (then Lotus and Virgin) finished lower in the constructors' championship in their debut season, the losing owner would serve on the other's airline. Branson lost as Lotus finished 10th and Virgin 12th, but the trip was postponed in early 2011 after he injured himself while skiing.

Now, Fernandes has revealed that Branson is ready to complete his forfeit, and will do so in May with tickets for the flight set to be auctioned off for charity.

"Now here is a man with honor @richardbranson who just contacted me to honor his bet," Fernandes wrote on Twitter. "He will be an airasia stewardess in may on Airasia. 2 years late but main point he hasn't forgotten."

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