GENEVA: Like cars, aircraft will be subjected to CO2 emission norms. The International Civil Aviation Organisation ( ICAO) is developing a certification standard for such emissions and it is likely to come into force early next year.

"ICAO is working on developing a certification standard for CO2 emissions for aircraft. The certification should be out by February next year," said Michael Gill, director, aviation environment, International Air Transport Association. According to Gill, these regulations will be drawn up to tell manufacturers how to measure CO2 emission levels.

"It will take into consideration size, weight and the varying stages of flights and conditions encountered," Gill said at IATA's Global Media Day.

IATA also revised its 2015 profitability forecast for airlines to $33 billion from an initial estimate of $29.3 billion. The revision was on the back of lower oil prices and stronger demand for passenger travel. For 2016, the international airline body expects net profits to increase to $36.3 billion at a net profit margin of 5.1 per cent. IATA director Genera Tony Tyler said even through it was an achievement to grow at such profitability, it still is fragile.

"With net profit margins still in the 5 per cent range, there is a little buffer. Achieving returns that barely exceeds the cost of capital means that airlines are finally meeting the minimum expectations of their shareholders...the industry's profitability is better described as fragile than sustainable," Tyler said at apress conference in Geneva.

IATA expects revenues in 2016 to rise by 0.9 per cent to $717 billion, which is marginally less than $758 billion in 2014. It has declined to $710 billion in 2015 due to currency fluctuations. Demand in passenger travel is expected to grow by 6.9 per cent in 2016 from an estimated 6.7 per cent this year. Tyler said Indian aviation industry would be one of the biggest growth drivers in the Asia Pacific region, which is expected to grow from $5.8 billion profits in 2015 to $6.6 billion in 2016. However, overall profit per passenger in 2016 is forecast at $5.13, well behind that US and Europe.