Billionaire Richard Branson has been sacked from his new job as an Air Asia flight attendant after spilling a tray of drinks over owner Tony Fernandes. The Virgin conglomerate founder honoured the bet he made with Fernandes by dressing in the budget airline's red stewardess uniform.

Branson and Fernandes, who are both owners of their own airlines and Formula One teams, made a bet in 2010, in which the one with the losing F1 team would dress as a cabin crew on the winner's airline.

Fernandes's Team Lotus finished two spot above Branson's Virgin Racing during the 2010 F1 season, which meant that Branson would have to act as a flight attendant on Air Asia for one flight.

On Sunday, May 12, Branson finally honoured the bet. He dressed as an Air Asia female cabin crew to serve Fernandes on a flight from Perth to Kuala Lumpur.

"After having my legs shaved the night before, a delightful assistant helped put on my lipstick and red shoes before I got a lift (and a kiss) from my new boss Tony. Having got some funny looks carrying my tights and dress around Australia for the past week, it was great to finally put them on," he recounted on a blog post on the Virgin website.

The 4th richest citizen of the UK was so used to being the boss that he had a hard time following orders from his Malaysian counterpart.

"I've always wanted to work as cabin crew - but I've never had a boss, so didn't take too well to Tony's orders. Moments after getting onto the flight, I 'accidentally' spilled a whole tray of drinks over him," Branson wrote.

"I made it up to him later by spoon-feeding him his dinner, as well as serving tea, coffee or me to all of the Air Asia X passengers. He got me back by showering me in champagne when we arrived in Malaysia too."

Fernandes, who used to work for Branson's Virgin back in the days, was glad to see his former employer (and now equal) serve him during the flight, but he wasn't too happy about the spilt juices.

"I wanted to kill him actually," he quipped to reporters, as quoted by AP.

"He looked at me, I said, 'don't you care,' and the next thing I know, he tipped the whole tray on me. He and the girls mopped it up, but I was walking around the flight in my underwear for a while because I didn't bring another pair of trousers."

Branson's gig as a crew flight member is a one-off. The main reason for Branson's hilarious gig was to raise money for Starlight Foundation, a charity that helps seriously ill and hospitalised children throughout Australia, and which both Virgin Australia and Air Asia support. He managed to raise more than $300,000 for Starlight for wearing Air Asia's red skirt.

"Tony used to work for Virgin and it's brilliant to see how he has built a thriving brand of his own. Sadly, he'll have to carry on the airline without me, because he sacked me straight after the flight!" Branson said.