The yo-yoing aviation threat level issued by Iceland over the last week -- in response to increased and then subsided activity at the country's Bardarbunga volcano -- has again been downgraded from red to orange.

Icelandic authorities announced they've cut the alert status from the critical red level because a fresh fissure eruption within the Bardarbunga system has not been creating ash.

As a result, no flight restrictions in connection to the current volcanic eruption are currently in effect.

Struck by thousands of earthquakes over the last two weeks, the Nordic country's largest volcanic system cuts across the North Atlantic island, affecting an area approximately 118 miles by 15.5 miles, according to a report by Reuters.

Back in 2010, an ash cloud from the Eyjafjallajokull volcano, which is in a different region of Iceland, closed much of Europe's air space for six days.

The current eruption started early Sunday morning, has blown lava more than 50 meters, or close to 170 feet, into the air and is located near an earlier eruption that continued for a few hours early Friday.

The country's Meteorological Office raised its ash alert level to red earlier on Sunday but cut it after monitoring the eruption during the day.

"No ash has been detected," the Icelandic Meteorological Office said in a statement. "The Aviation Color Code for Bardarbunga has therefore been reset to orange."

Red is the highest level of a five-color scale and indicates an eruption is imminent or in the process, with a risk of spewing ash.

A restricted flight area of about three nautical miles had been called by the Icelandic Transport Authority, but is now canceled.

Icelandic authorities said the latest fissure eruption started Sunday in Holuhraun, located north of the Dyngjujokull glacier, at approximately 4 a.m. GMT, or midnight Eastern Daylight Time.

Scientists estimate the fissure is about 1.5 kilometers, or about .9 miles, long.

The lava is believed to be about to be six to eight meters, or 19 to 26 feet, thick and flowing at a rate of about 1,000 cubic meters, or 35,300 cubic feet, per second.