Update - 10:12 AM Eastern:

Israeli Prime Minister Benjamin Netanyahu has now issued a statement regarding the Wednesday incident involving the Flydubai passenger jet bound for Tel Aviv.

Citizens of Israel: This morning was the most serious security incident ever on a flight destined for Israel from Dubai. Almost all the passengers on the flight were Israelis. 

During the flight, as they approached The Land, one of the pilots stabbed the second pilot and apparently tried to crash the plane with its passengers on board.

I spoke with one of the Israeli passengers. He told me the plane entered a spin and began to dive. He told me that along the way, he managed to break into the cockpit with one of the crew members, and they restrained the stabbing pilot while he was still trying to sabotage the plane's systems. Another crew member who was on the plane entered the cockpit and managed to stabilize the aircraft.

I salute these heroes who showed resilience and extraordinary courage. They saved many lives. They prevented a major disaster.

The plane landed safely at the Tabuk Airport in Saudi Arabia, which was cleared of traffic. All passengers exited without injury.

The stabbing pilot was arrested and is currently being investigated by the Saudi authorities. 

We are in continuous contact with the relevant authorities to ensure the safe continuation of the passengers' journey and their safe return home. 

I have directed the security services to assess the threat in light of additional potential dangers. We conduct ongoing situational assessments and will update you as the situation develops.

Original story:

A Flydubai passenger jet bound for Tel Aviv had to make an emergency landing in Saudi Arabia Wednesday in what may have been an attempted hijacking or some other act of terror. Things were so dangerous and chaotic that Israel scrambled fighter jets in case it was a hijacking.

Confirmed details are scant at this point, but reports indicate that the copilot stabbed the pilot, possibly causing his body to pitch forward onto the controls and forcing the plane into a steep, terrifying dive. Other crew members made their way into the cockpit and took control of the plane, eventually making a safe landing in Tabuk, Saudi Arabia.

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Fox News reports that the incident may have stemmed from a disagreement between the pilot and copilot, but two Israeli officials believe it may have been a "terror attack," while "the Jerusalem Post separately reported that the growing assessment among Israel's security establishment, including the IDF, Mossad and Shin Bet, was that the incident was intended as an act of terror."

BREAKING: A flight bound for Israel makes an emergency landing in Saudi Arabia after a midair cockpit incident triggers fears of a possible hijacking and prompts Israel to scramble fighter jets.

One passenger tells Fox they believe the co-pilot stabbed the captain, who then fell onto the controls. Other passengers describe hearing screams as the plane suddenly plunged before landing safely in Tabuk.

Officials say the emergency stemmed from an altercation involving the pilots, not a hijacking. Everyone on board is reported safe as authorities investigate exactly what happened inside the cockpit.

@Jeff_Paul reports the latest on the ground in Tel Aviv.

Still unclear is what role the Israeli fighter jets were prepared to play if this really was a hijacking.

The scene inside the plane was horrifying. There is gruesome footage showing the bloodied pilot receiving care from the crew and passengers, and the copilot was noted to be unconscious and restrained.

One passenger recounted the terror:

"There are many different accounts, but apparently the co-pilot stabbed the captain and collapsed onto the controls, shutting down the entire instrument panel. We began plunging downward for several minutes. Everyone on the plane was screaming, the overhead compartments opened, and the power went out. We were sure we were going to die. It was very scary," the passenger said.

There was visible damage to the plane from its rapid descent.

This is a developing story. RedState will provide updates as more information becomes available.