Investing.com -- Ryanair Chief Executive Michael O'Leary said Monday he sees no risk that a jet fuel shortage would force flight cancellations in Europe this summer.

"We now have almost zero concerns over fuel supplies across Europe," O'Leary said during a conference call following the release of annual results. "We do not see any real risk to supplies."

O'Leary added that Europe remains very well supplied with jet fuel.

The CEO said Boeing is making very positive noises about the MAX 10, and he expects certification at the end of the third quarter or early fourth quarter.

O'Leary said there will be some significant crew pay increases agreed this year.

He noted that close-in bookings in early and mid-May are strong and pricing is strong.

Ryanair's Chief Financial Officer said the company has hedged 80% of dollar requirements on fuel for this year at $1.15 and 30% of next year's requirements at $1.20.