It was discussed by the Council's aviation working group last week and today but the Transport Council itself does not meet again until December. From what I've heard it is possible but by no means certain that agreement will be reached. The meeting agendas for the working groups can usually be found on the Council's website
http://ue.eu.int/cms3_fo/showPage.as...lang=en&mode=g
Even if the Transport Council does agree, it is is part of a larger proposals which, as I understand it still needs some further work.
With respect to Big Tudor's comment that the Transport Council
"don't have the power to put it into law, only to recommend / reject it to the Parliament" this is a bit of a simplification of the issue. The proposal comes under the co-decision procedure in which both the Council and the Parliament have an equal say in the matter. If anyone is interested in deatails of the legisaltive procedure these can be found at
http://europa.eu.int/eur-lex/en/about/abc/abc_21.html