With European Union facing global flak over imposition of a green tax on all aircraft flying in its skies, world airlines' body IATA has warned European airlines of "retaliatory action" by non-EU nations if a global solution was not arrived at soon. 

Airlines face a carbon pollution bill of 505 million euros for this year under a controversial EU emissions trading scheme, an analysis by Thomson Reuters Point Carbon shows.

"Time is not on our side. Airlines from Europe may face some retaliatory action. And some non-European airlines may have to choose whether to obey the law of their land or that of Europe - two more unintended consequences which should convince all states that the ICAO (International Civil Aviation Organisation) is the way forward," IATA chief Tony Tyler said. 

He called for a global solution through the ICAO, a UN-body, to break the impasse on Europe's plans to "unilaterally" include global aviation in the EU Emissions Trading Scheme (EUETS). 

India, Russia, the US, China and several other countries would meet in Moscow later this month to decide on whether to take retaliatory measures against the EU on its "unilateral" decision to imposecarbon tax on air travel. 

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