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The chat show host revealed: "I tried [to say no]. I got so scared. I sent an email saying, 'This is so stupid. He's an actor, he's not a pilot.'
"When you're in a plane and it's just you and Tom Cruise, if something goes wrong you're both dead."
Corden went on: "He called me and said, 'James. You know I would never do anything to put your life in danger.'
"When he looks you in the eye, you just go, 'Let’s do it, Maverick!'"
The 43-year-old former West End star also recalled an awkward encounter with This Morning host Phillip Schofield from his musical theatre debut when he was a teenager.
Corden revealed: "I'll tell you a story about Phillip Schofield. When I was in a musical called Martin Guerre, I was 17-years-old, my first ever professional show. We had the opening night of our show at The Prince Edward theatre. We used to do this song and the director was like 'Lock eyes with someone in the audience.'
"I'm 17 and I lock eyes and it's Phillip Schofield and he's so close to me. And I went [sings] 'Who are thee?!'
"And Phillip Schofield, I promise you, he went like this [tilts head to one side and nods approvingly.] And I have loved him ever since."
Schofield said: "Do you know I can vaguely remember that."
Corden is in London filming a week of live shows for The Late Late Show.
"I still remember when I locked eyes with Phillip Schofield." 🤩
It seems James Corden's been a fan of Phillip for a while...
Do you have any memorable celebrity moments? 🌟 pic.twitter.com/H8auDlgGb6
— This Morning (@thismorning) June 28, 2022
He revealed the first thing he does when he returns to the UK is stock up on Percy Pig sweets.
He confessed: "We've literally just landed, heading to Marks and Spencer, how many Percy Pigs am I getting? Literally came in at 70 bags."
Watch: Tom Cruise re-enact is his film career with James Corden