Israel is preparing to retaliate against a Yemeni missile attack that targeted Ben-Gurion Airport on May 5, following a security cabinet decision, local N12 reported.

Prime Minister Benjamin Netanyahu indicated in a video statement that Israel would take action against the unrecognised power controlling the Yemeni capital city, Sanaa, referencing past operations against the Houthis, which caused a shutdown of the airport on May 3-4.

"Israel has acted against the Iran-backed Houthis in Yemen in the past and will act again in the future," Netanyahu stated as he prepared to convene a meeting with select ministers and senior defence officials to formulate a response, according to Channel 14.

The Israel Defense Forces (IDF) has completed its initial investigation into the incident, confirming that the missile fell in an open area adjacent to the airport without hitting critical infrastructure.

The military reported no malfunction in detection procedures, interception systems, or Homefront Command alert mechanisms.

"According to the assessment, the likely cause was a technical issue with the interceptor launched toward the missile," the IDF explained on its official Telegram account. "Since the beginning of the war, the IAF intercepted dozens of missiles launched from Yemen, with a success rate exceeding 95%."

The missile attack forced multiple foreign airlines to announce flight cancellations after a missile attack, Calcalist reported on May 4.

The unprecedented attack caused immediate suspension of all takeoffs and landings, with passenger aircraft diverting mid-air. After approximately two hours, the airport resumed normal operations, but foreign airlines proceeded with cancellations regardless.

In response to these cancellations, El Al announced it would assist stranded passengers with one-way flights at fixed prices: $99 from Larnaca and $149 from Athens for basic economy class tickets. Israir and Arkia have both added supplementary flights to accommodate affected travellers, while TUS Airways and Bluebird Airways have also announced additional flights.

Wizz Air, the third busiest carrier at Ben Gurion in March with nearly 9% of passenger traffic, has suspended flights until Tuesday morning. The Lufthansa Group (including Lufthansa, Swiss, Austrian Airlines, Brussels Airlines and Eurowings) officially announced suspension of Tel Aviv flights until May 6, while British Airways and Italian carrier ITA cancelled all flights until May 7.

Iberia, Air Europa, Air France, Transavia, Ryanair, Azerbaijan Airlines and United Airlines cancelled flights for the next 24 hours. Air France and Air Europa removed passengers who were already on board aircraft prior to departure from Paris and Madrid respectively.

Despite widespread cancellations, Ethiopian Airlines continues to operate normally despite unusual delays in its flights.

Meanwhile, shares of Israeli airlines rose significantly, with El Al jumping by approximately 7% and Israir rising by 4%.

European Union Aviation Safety Agency has not yet issued a warning regarding Israeli airspace, as it did in late September when fewer than 20 airlines remained operational in the country. US aviation authorities have also not issued warnings against flights to Israel.