According to the news (still only in Icelandic) an eruption on the Reykjanes peninsula is imminent, within hours, fairly close to the main airport KEF / BIKF.
Is reported to not be likely to spew much ash, should be a lava-only eruption, so not likely to disrupt aviation, but one never knows.
https://www.mbl.is/frettir/innlent/2..._klukkustunda/
News in English likely to appear here:
https://icelandmonitor.mbl.is