What the studies actually say (Score 1)

The current best estimate seems to be that aircraft emissions cause around twice the warming than you would get if the equivalent amount of CO2 was released at ground level, not including the affects of the resulting clouds (which probably makes it significantly worse).

http://ipcc-wg1.ucar.edu/wg1/Report/AR4WG1_Print_Ch02.pdf, as interpreted at http://www.tricoronagreen.com/tricorona/page.php?p=climateimpact

If so, I guess that invalidates the whole approach described in the article.