The Bardarbunga volcano in Iceland is less likely to erupt than it was last week, according to geologists. The Icelandic Meteorological Office on the island nation recently downgraded their eruption warning level from red to orange.

Airlines may have faced the greatest threat from an eruption, had one occurred. Volcanoes can release vast quantities of tiny glass particles which can enter air intakes of jets, damaging engines. Officials in Reykjavik have announced the volcano no longer poses an immediate threat to aircraft.

Hundreds of tremors have shaken the ground in recent weeks, as molten rock travels beneath the surface of the caldera.

The Met Office announced the formation of volcanic cauldrons on 22 August, but further investigation reveled the magma flow under the glacier was minimal.

On 29 August, a small eruption was recorded by the Icelandic government agency, but the warning level was lowered to orange hours after the geological event.

"The eruption occurred on an old volcanic fissure on the Holuhraun lava field, about [three miles] north of the Dyngjujökull ice margin. The active fissure was about [nearly 2,000 feet] in length. A small amount of lava drained from the fissure and [within four hours], lava flow is thought to have stopped," the Met Office reported.

The volcanic eruption peaked about 40 minutes after the event started, and began to subside about 20 minutes later. Magma flow continued through the day, without signs of ending. Tremors became more common as the eruption resumed, but later fell back to levels seen before the event.

Many flights started to avoid the airspace directly above the volcano, fearing an imminent eruption. Aircraft resumed flying over the area, following the latest announcement from the Met Office.

A scientific advisory board met to discuss conditions at the massive volcano. The group confirmed a small eruption that took place just after midnight local time on 29 August. This activity was detected by a Web camera based to the northeast of the volcano, and seismic activity was recorded at all monitoring stations in the area.

The Met Office believes there are three likely scenarios for Bardarbunga following the recent eruption. One possibility is that movement of magma ceases, and tremors gradually become less frequent. The second is that an eruption occurs north of the Dyngjujökull ice sheet, which would likely result in an explosion and the flow of lava out of one or more fissures. If the ground breaks directly above the glacier, the eruption could result in flooding and the release of large quantities of ash into the atmosphere.