Iceland has apparently acknowledged the likelihood of an eruption of ash emissions from the Eyjafjallajokull, raising the aviation industry warning level from orange to red.

According to BBC News, a red alert means an eruption is likely going to take place soon and Iceland's volcano has been exhibiting signs for some time now. The volcano last erupted in 2010 and the ash emissions grounded more than 100,000 flights all across Europe for nearly a week.

Toward the middle of Iceland is the Vatnajokull glacier, which sits above the large system of volcanoes. Iceland's Meteorological Office announced that the Bardarbunga volcano, one of those underneath the glacier, is undergoing a subglacial eruption, the Associated Press reported.

Scientists had reportedly planned to perform a fly over of the volcano to examine surface changes, with the help of the Coast Guard, but it is not clear if that is still planned. Over the past week, Iceland has evacuated hundreds of people surrounding the volcano, though it is not heavily populated.

"The rate of earthquakes has increased such that they are happening so quickly that it is difficult for the seismologist to discern individual events," the Met Office said in a statement obtained by Bloomberg News. "The activity continues and an eruption can therefore not be ruled out."

Melissa Pfeffer, a volcanologist, said Bardarbunga's subglacial eruption could melt ice and send steam and ash into the air. She said seismic data suggests it is the case, but it is not yet confirmed.

"The thicker the ice, the more water there is, the more explosive it will be and the more ash-rich the eruption will be," Pfeffer told the AP.

The Penn State and UCF football teams are supposed to play their season opener in Dublin, Ireland and are scheduled to fly out on Aug. 26. That trip now seems all but cancelled.