Virgin Atlantic will retain its brand name after striking a $360 million deal with Delta Air Lines following an argument between Richard Branson and British Airways' Willie Walsh.

Branson bet Walsh £1 million on Monday that the Virgin Atlantic brand will still be around in five years' time after Walsh hinted a deal between Virgin and Delta would see the Virgin brand disappear.

Walsh hit back at Branson's bet in an interview with The Telegraph by wagering Branson a "knee in the groin" ...