Ryanair chief executive Michael O'Leary and his counterpart at Aer Lingus Christoph Mueller might have more in common than their involvement in the Irish airline industry.

O'Leary's reputation as a straight talker is well established but Mueller is increasingly demonstrating that he's no slouch in this department either. In a corporate outlook just produced by law firm McCann Fitzgerald, Mueller warned that confidence could "give way to complacency" now that the Ireland has exited the EU-IMF bailout.

“We no longer have a safety net, so we’ve got to make it work,” Mueller said. “A lot of tough decisions have been avoided or fudged. The cost of living in Ireland is still alarmingly high relative to many major economies.”

Mr Mueller added that there was a “lack of certain skills” in the labour market here, which is why so many companies were having to recruit from abroad.

“To address this, we need more vocational training better fitted to the needs of indigenous companies and particular industry sectors,” he argued. “As an example, Aer Lingus is piloting a training scheme that will certify mechanics in order to meet the needs of businesses in Ireland , as well as our own recruitment needs for the future.”

Mueller revealed that most of Aer Lingus’s seats are not actually sold in the Irish market. “We already sell the majority of our seats in international markets, with domestic demand still some 30 per cent below the peak, despite the recent improvements,” he explained.

And he wasn't afraid to have a side-swipe at the National Asset Management Agency, even though he is non-executive chairman of State-owned An Post. The unwritten protocol is usually that the heads of Government-owned entities avoid having a poke at other agents of the State.

"We still have to resolve the legacy of debt issues, including Nama's presence in the hotel sector and all that it means for tourism." Nama chairman Frank Daly and its chief executive Brendan McDonagh will not be amused.