Delta Air Lines (DL, Atlanta Hartsfield Jackson) has said it is not interested in pursuing a merger with another US carrier, as industry speculation continues to intensify in North America.

Delta’s chief commercial officer, Joe Esposito, told reporters that the company “doesn’t need it at this point. We are successful on our own,” as quoted by news site Skift.

United Airlines has floated the possibility of a merger with American Airlines, JetBlue Airways is reportedly seeking a potential buyer, and there is the ongoing acquisition of Sun Country Airlines by Allegiant Air.

Delta’s chief executive, Ed Bastian, has speculated that rising fuel prices could trigger consolidation in the United States. Speaking during the company’s first-quarter earnings call, Bastian said: “You have a considerable portion of the industry that has not returned its cost of capital, has not made a profit in years. Going back over the last decade when we saw consolidation happen, we forget what drove consolidation. What drove consolidation was higher fuel prices back in 2009, 2010, 2011, and we were the leaders in that with the acquisition of Northwest Airlines in 2008.”

Following the US-Israel attack on Iran and the subsequent closure of the Strait of Hormuz, oil and fuel prices have risen sharply worldwide. Carriers are starting to feel the strain, shutting down unprofitable routes, cutting capacity, announcing fare increases, and mooting potential consolidation moves.

In the United States, United’s chief executive, Scott Kirby, has floated the idea of a potential merger with rival American Airlines, while the US transportation secretary said there was room for consolidation but that the government would not pre-commit to any outcome. Bloomberg reported that the White House declined to comment on the merger speculation.

The founder of JetBlue, David Neeleman, has speculated about potential bankruptcy for the carrier, citing rising fuel prices, and said he did not see any interested buyer for the company. Meanwhile, reports suggest that Spirit Airlines could potentially be liquidated in April amid the challenging financial environment, as it navigates its second bout of Chapter 11 restructuring.

ch-aviation reached out to Delta Air Lines for comment, but it was not immediately available.