Israeli airspace (Tel Aviv FIR) remains open as of mid-November 2026, though EASA maintains an active advisory through November 16 citing risks of short-notice restrictions from missile and drone activity tied to Iran and associated groups including Hezbollah and the Houthis. Multiple temporary closures occurred earlier in 2026 amid US and Israeli strikes on Iran and subsequent Iranian retaliations, establishing a pattern of brief security-driven shutdowns. Current trader pricing on a December 31 resolution at roughly one-third reflects the market's assessment of lingering regional tensions without an immediate trigger, while noting Israel's stated preference for limiting any future closures to under 12 hours. Scheduled diplomatic or military developments in the coming weeks could alter the outlook.