Iceland have raised their aviation warning level to red - the highest warning level - following a small volcanic eruption.

There was a fresh eruption from the Bardarbunga volcano, and has been described as "a very calm lava eruption".

The small fissure took place in the Holuhraun lava field, about three miles north of the vast Dyngjujoekull glacier.

A series of earthquakes over the last two weeks is thought to have triggered the eruption.

The warning means planes will be banned from flying within 6,000 feet of the peak.

A similar red warning issued on Friday was subsequently downgraded to orange.

A red warning indicates that "an eruption is imminent or in progress, and that a significant emission of ash into the atmosphere is likely". The lower orange alert indicates that a "volcano shows heightened or escalating unrest with increased potential of eruption".

The latest eruption follows a fortnight of earthquakes throughout the region and a number of aviation warnings.

The development of an ash cloud in Iceland could be disastrous for the aviation industry and cause widespread disruption for travellers.

In 2010, an ash cloud from the Eyjafjallajokull volcano left vast swathes of European airspace closed for six days. More than 10 million people were affected.

There have been fears that insurers may not pay claims related to future ash cloud disruption, on the basis that repeated warnings from the Icelandic Met Office make it a "known event".