Michael O'Leary

At the controls of Ryanair, Michael O'Leary has transformed the Irish no-frills carrier into Europe's most profitable airline. But he's not cooling his jets. Earlier this month, Ryanair launched an audacious y1.48 billion takeover bid for Ireland's flagship airline, Aer Lingus. With the offer still pending, the famously outspoken O'Leary, 45, talked via e-mail to TIME's Adam Smith.

You've picked up just over 19% of Aer Lingus, but both the Irish government and Aer Lingus' board have rebuffed your overtures. And last week, opponents of a tie-up bought shares in Aer Lingus to block the deal. Are you still confident of landing the airline? As an Irishman, I am always optimistic but never ever confident. It is a great deal for Aer Lingus' passengers, who will enjoy a 10% reduction in short-haul fares, and an even better deal for Aer Lingus employees, who stand to make on average 360,000 each. A 27% premium over the flotation price of a week earlier is a very generous offer.

Since taking control of Ryanair in 1994, you've built a successful short-haul business. Why buy a long-haul operator? Aer Lingus is not a long-haul operator. It's a short-haul airline with a small long-haul arm — 85% of its traffic is short-haul, high-cost. We believe we can transform Aer Lingus by reducing its costs and its fares for the benefits of consumers everywhere.

You sued the British government for losses you attribute to security measures imposed after August's foiled terrorist plot. Where's the balance between safety and punctuality? Reducing cabin baggage to large briefcases, body searching infant children or confiscating toothpaste does not improve security one iota. We welcome the recent moves to restore U.K. airport security to the sensible and effective standards we campaigned for.

You say you'd like to "stuff it" to British Airways. Why the vitriol? Anyone charging airfares that are five times higher than Ryanair deserves a bit of abuse from time to time.

What do you plan on doing with yourself after Ryanair? Making the world a better place ... by taking a vow of silence!