JetBlue Airways (NASDAQ:JBLU) shares rose 14% Wednesday after Semafor reported the airline is exploring potential merger partners.The carrier has tapped advisers to assess the viability of selling itself to a rival airline, according to people familiar with the matter cited by Semafor. JetBlue has specifically scenario-planned how a deal with United Airlines (NASDAQ:UAL), Alaska Airlines (NYSE:ALK), or Southwest Airlines (NYSE:LUV) might fare with regulators in Washington.

The merger exploration is preliminary and JetBlue could decide not to pursue talks with any of its rivals, the people said. It could not be determined whether JetBlue had held discussions or received indications of interest from potential buyers.