Ongoing Houthi missile and drone strikes on Saudi airports, including Riyadh’s King Khalid facility in October 2026, have triggered extended flight suspensions by carriers such as Lufthansa, Air India, and Etihad, along with EASA conflict-zone advisories for the Jeddah Flight Information Region valid through mid-November. Saudi authorities issued NOTAMs requiring prior permission for Riyadh operations and prohibiting its use as a diversion airport, while air-defense interceptions raised risks of debris and misidentification for overflights. These developments have produced partial disruptions rather than a nationwide closure of Saudi airspace, keeping trader-implied probabilities for full shutdown by year-end in the low single digits. Key near-term catalysts include the EASA bulletin’s renewal decision, any new Houthi claims or strikes, and Saudi responses that could alter routing or overflight permissions.