Last updated at 16:05 14 August 2007

Virgin tycoon Sir Richard Branson hurled a glass of water of a TV presenter after he was banned from talking about his new airline, according to reports.

The multi-millionaire, 57, was being interviewed by US political comic Stephen Colbert in front of a live studio audience in New York when he lost his cool.

But despite being drenched, the host, who Branson had named a plane after, refused to be phased.

He demanded a bottle of water from aides and then retaliated by flinging it that over his multi-millionaire guest.

An unnamed member of the studio audience told New York's media website FishbowlNY: "Branson was apparently upset that he wasn't able to give a direct plug to the new Virgin service and doused Colbert with his guest mug of water.

"Stephen was drenched. He took a beat, then signalled for his own ammunition for about twenty seconds until Alison (Silverman) ran and gave him her bottle of water, and Stephen retaliated.

"The two of them sat for a very uncomfortable second looking like two wet cats.

"Then Stephen thanked him for coming. I really don't think it was planned, since Stephen had another bit to introduce and a full interview left to do.

"They had to get him a new jacket and even broke out a blowdryer."

Virgin America launched its inaugural flights from New York's John F Kennedy International and Los Angeles International Airport to their home base of San Francisco last Wednesday.

According to reports in The Sun, a Virgin spokesman insisted Branson had been invited on The Colbert Report to talk about the new low-cost service.

He said: "Richard did throw his water over Stephen. As most people know, Richard can be unpredictable."

Branson is set to re-record Colbert's show later this week.