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U.S. Transportation Secretary Sean Duffy ​said on Tuesday he thinks there is ​room for consolidation in the U.S. airline industry but said any potential deal would face close scrutiny on how it would affect consumers.

“If there was a merger ‌between some ⁠of the ⁠larger airlines, they would have to peel off some of their assets,” ​Duffy said on CNBC. “I am not going to pre-commit to anything.”

Sharply higher jet ​fuel prices during the U.S.-Israeli war on Iran have fed speculation there could be a new round of consolidation in the U.S. ​airline industry. Any deals would need approval of ⁠President Donald ‌Trump, USDOT and the Justice Department, Duffy said.

“Who ​knows who ​is going to match up?… Is there room ⁠for some mergers in the aviation industry? Yeah, I ​think there is,” Duffy said, acknowledging “there is a ​lot of chatter” about potential deals.

For decades, antitrust regulators approved a series of mergers that have resulted in about 80% of the domestic passenger market being controlled by four U.S. airlines – American Airlines, Delta Air Lines, United Airlines and Southwest Airlines.