It is believed that a small subglacial lava-eruption has begun under the Dyngjujökull glacier. The aviation color code for the #Bardarbunga volcano has been changed from orange to red. A 140 by 100 nautical miles no fly-zone is in effect over #Dyngjujokull just for safety, but at this point there is no visible eruption or ash cloud.
Some flights that were supposed to fly over Dyngjujökull are taking small detours so for now the affect on air traffic is very limited.
Flightradar24 will continue to monitor the situation.
Virgin Atlantic flight VS19 was one of the flights that took a small detour to avoid the closed airspace.
Icelandic Met Office: http://en.vedur.is/
Latest news from Iceland: http://www.mbl.is/frettir/english/
Live Air Traffic over Iceland: http://www.flightradar24.com/64.44,-15.72/7