Not only will British billionaire Richard Branson dress and serve as a stewardess on Malaysian budget carrier AirAsia X on May 1, but you can shave his legs - for a price.

AirAsia founder and Team Lotus co-principal Tony Fernandes, having won a bet with Branson at the 2010 Bahrain Formula One GP, said the business magnate would shed his leg hair if someone paid at least 400,000 pounds ($650,000).

"As an AirAsia flight attendant, Richard would have to comply to our grooming standards, and that includes shaving his legs," Fernandes said in a statement late Monday.

 "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," he added.

"It?s the first time we?ve both agreed on anything so that in itself is worth the price of the opening bid."

The airline said that the top bidder must have a confirmed ticket costing 4,500 pounds for the London to Kuala Lumpur charity flight, with the leg-shaving auction taking place at a pre-departure event at Stanstead airport.

AirAsia X is a long-haul affiliate of AirAsia and Branson's Virgin Group.

The airline said it was selling 160 tickets for the flight, with passengers also to be entertained on board by street magician Sav the Deceptionist and a four-piece band featuring former Formula One team owner Eddie Jordan.

AirAsia is Southeast Asia's largest budget carrier and along with AirAsia X, services about 150 routes covering destinations in Asia, Australia and Europe.