Now Stelios is eyeing up the mobile market

Both Ryanair and Easyjet founder Stelios Haji-Ioannou hope to offer discount mobile calls across Europe.

They aim to cut costs by leasing network time from big-name mobile firms, and selling the SIM cards used to control handsets over the internet.

They hope to have their new services up and running later this year.

Ganging up

Mr Haji-Ioannou, whose other ventures include a discount car hire business and a chain of internet cafes, is currently in talks to buy spare capacity from established mobile networks.

He told the BBC's World Business Report that he was "optimistic" that the negotiations would be successful.

"It is entirely possible that all four networks will gang up on me and refuse to sell me airtime," he said.

"But preliminary talks have indicated to me that you always find someone who's hungry for a bit more business."

He also warned that it may take some time for the new venture - named EasyTelecom - to find its feet.

"Personally, when I invest in an industry, I usually think in terms of decades rather than the next financial quarter."

Ryanair challenge

Mr Haji-Ioannou's EasyGroup also hopes to extend its low cost business model to the hotels, cinema, and pizza delivery industries.

Ryanair's rival 'no-frills' mobile service, to be launched by spin-off Ryanair Telecom on 10 March, aims to reduce the costly "roaming" charges paid by mobile users who make calls when travelling abroad.

Similar cut-price mobile telephone companies are already up and running in Denmark.