On May 1, Branson will board a special AirAsia flight from Stansted Airport, London to Kuala Lumpur dressed in full flight attendant gear. With one notable exception: his hairy legs.
Fernandes has issued the following statement: "As an AirAsia flight attendant, Richard would have to comply to our grooming standards, and that includes shaving his legs.
"Rather than shave him myself, Richard and I thought we could have a bit of fun, engage with our guests and raise more money for charity if we opened up the opportunity to the highest bidder."
How did this weird and wacky forfeit come about? Fernandes bet Branson that his team would finish higher at the 2010 Bahrain Formula One Grand Prix. Lo and behold, the Lotus F1 team came up with the goods.
Proceeds from the bidding as well as ticket sales (which will sell for roughly $7,300 a pop) will go to Virgin Unite, Branson's not-for-profit foundation.
We'll update this blog as soon as we have details of the bidding - in case any of you have the urge to get follicular with the Branson boss. A word of warning - this could get pricey. Branson is refusing to part with his leg hair for less that £400,000.