Ryanair Chief Executive Michael O'Leary.
Ryanair boss Michael O'LearyReuters

Budget airline Ryanair has said it expects its full year net profit forecast to be at the upper end of its current guidance of between €620m (£484m, $788m) and €650m (£507m, $826m).

The aviation firm, which is the largest low-budget airline company in Europe, is confident it will achieve this goal because of an increase in passenger numbers.

Chief executive Michael O'Leary told the company's AGM that its passenger forecast has increased by one million to 87 million in the year ending 31 March 2015.

The Irish company flew 8.4 million customers around the globe in August, meaning its rolling annual traffic number grew to 83.4 million customers – a record for the company and 4% higher than the first eight months of 2013.

"However, the full-year profit outturn continues to be heavily dependent on H2 [second-half] yields over which we have very little visibility at present," he added.

Ryanair's stocks rose slightly on the back on the announcement, increasing by the best part of 2% to €7.45.