JetBlue Up; Semafor Says Exploring Potential Merger Partners (1)

(Adds share move.)

JetBlue share quickly extend gains to as much as 16% after Semafor reported that the airline has tapped advisers to assess the viability of selling itself to a rival airline, citing people familiar with the matter.

• Company has specifically scenario-planned how a deal with United Airlines, Alaska Airlines or Southwest Airlines might fare in Washington
• JetBlue’s M&A planning is preliminary and the airline could decide not to pursue talks with any of its rivals
• It couldn’t be determined whether JetBlue had held discussions or received indications of interest
• JetBlue declined to comment on internal discussions: Semafor
  • “We’ve ...