A few things
Book with a UK or EU airline. Do not be tempted to go with a cheaper non UK or EU airline. You will have way more rights and be a higher priority for repatriation if necessary.
If there's an aviation fuel shortage, you might want to consider this in multiple ways. Yes there may be surcharges or cancellations. The worse case scenario, is going somewhere and finding yourself stranded. Keeping an eye on the aviation fuel situation is probably wise - noting the UK is particularly vulnerable to this.
Make sure you have more funds available to cope with significant delays or cancellations if necessary. I think these are going to get more common due to more disruptions across the board for multiple reasons over the next few years. Don't just max your credit cards to go on a holiday - as this might just leave you really up shit creek.
Have insurance. Check the small print for what it covers and what it doesn't. Pay extra for good coverage. Don't go cheap. It's not worth it. Know what you are covered for... And what you are not.
Don't rule out airlines going pop - there's a few reasons brewing that make this a distinct possibility - one being locked into flights bought at unaffordable prices followed by a severe hike in aviation fuel prices. Or a massive stock market crash.
All the US airlines have more or less said that they are seriously considering cutting their schedules in December. I expect we are likely to start hearing noises to this effect in Europe soon enough, like we did over the summer (that didn't happen). So just because you have booked, don't assume you are going. On this note try not to book flights separately - book at the same time through a single vendor as it protects you more.
With all this talk of Russia 'doing something', if they do this could have ramifications: check your travel insurance for the war exemptions. Few policies cover you in the event of war. It sounds extreme - but it is worth having a solid think about what you would have to do to get home in that situation (or if you even could for some destinations). I think this is still unlikely at this point but it can't be ruled out. See above points about sufficient funds.
Re above point about cancellations and refunds. Be really careful about vouchers over refunds. An airline in administration won't pay up for a voucher. Aviation companies are absolutely on the front line of any global crisis in financial terms - severe weather, air traffic issues (potentially through cyber warfare issues), severe economic shock like a stock market crash, supply line issues such as aviation fuel or an actual physical war - they are liable to be one of the first industries impacted. This is why I say about making sure you have some money put aside for emergency in addition to your normal holiday fund if you really do want to still go away because all these fragility issues in global stability means the chances of you needing it getting higher.
But above all my thoughts process on this is be flexible and what can you afford to lose. If things do start to look fragile, I wouldn't have the mentality of "well I've pay X and it's my holiday I'm not prepared to miss it". I'd seriously say watch the news very closely and consider the risk on departure day - you don't have to get on that flight even if you have paid for it and really want to go. I think this is the scenario that has caught people out with lockdown - it was ultimately anticipated but people still went ahead and got stuck because they were bloody minded about going.
I wouldnt let it put you off booking and hoping you can go. We can't put life on hold. But do consider the finer points above which you might well have taken for granted in the past.
I have two trips booked. One for this year and one smaller one for later next year. I am not certain either will happen, but I also think living in total fear isnt healthy - it might be the last time we can too.