JetBlue Airways has engaged financial advisers to explore strategic options including a potential sale of the airline, according to reports from Semafor.

The low-cost carrier is examining various alternatives that could include selling itself to a rival airline company. Bloomberg reported that JetBlue is specifically exploring options to sell itself to a competitor in the industry.

The move comes as the airline industry continues to face ongoing challenges and consolidation pressures. JetBlue's decision to hire advisers suggests the company is conducting a formal review of its strategic alternatives.

JetBlue has not publicly confirmed the reports or provided additional details about the scope of its strategic review. The airline's stock trades on the NASDAQ under the ticker symbol JBLU.

The potential sale exploration represents a significant development for JetBlue, which has operated as an independent carrier since its founding in 1998. Any potential transaction would likely face regulatory scrutiny given the concentrated nature of the U.S. airline industry.