Great Lakes Aviation Reports February Traffic

CHEYENNE, Wyo., March 14 /PRNewswire-FirstCall/ -- Great Lakes Aviation, Ltd (Nasdaq: GLUX - news) today announced preliminary passenger traffic results for the month of February.

Scheduled service generated 10,152,451 revenue passenger miles (RPMs), a 47.9 percent decrease from the same month last year. Available seat miles (ASMs) decreased 20.3 percent to 27,697,136. As a result, load factor decreased 19.4 points to 36.7 percent. Passengers carried decreased 39.5 percent over February, 2001 to 38,881.

For the two months ended February 28, 2002 compared to the same two month period in 2001, revenue passenger miles (RPM'S) decreased 47.0 percent to 19,720,467 while available seat miles (ASM's) decreased 25.1 percent to 58,027,767, resulting in a load factor of 34.0 percent for the year 2002 compared to 48.0 percent for the same two month period in 2001. The company carried 75,953 revenue passengers for the two month period ending February 28, 2002, a 45.4 percent decrease on a year over year basis.

Traffic declines were a reflection of planned reductions in capacity that were made in response to lower demand following the events of September 11, 2001. In addition, the company significantly reduced flying at its Chicago-O'Hare hub beginning in May, 2001.

                     FEBRUARY AND YEAR TO DATE STATISTICS
                                       Feb. 2002   Feb. 2001   Change
     Passengers Enplaned                38,881       64,219    -39.5%
     Revenue Passenger Miles (000)      10,152       19,502    -47.9%
     Available Seat Miles (000)         27,697       34,756    -20.3%
     Load Factor                          36.7%        56.1%   -19.4 Pts.
                                      YTD  2002   YTD  2001    Change
     Passengers Enplaned                75,953      139,191    -45.4%
     Revenue Passenger Miles (000)      19,720       37,176    -47.0%
     Available Seat Miles (000)         58,028       77,513    -25.1%
     Load Factor                          34.0%        48.0%   -14.0 Pts.

As of March 1, 2002, scheduled service was being provided at 48 airports in fifteen states with a fleet of Raytheon/Beech 1900D regional airliners. A total of 216 weekday flights are scheduled at four hubs, with 174 flights at Denver International Airport, 24 flights at Chicago-O'Hare International Airport, 14 flights at Minneapolis/St. Paul, and four flights at Phoenix. All scheduled flights are operated under the Great Lakes Airlines marketing identity in conjunction with code-share agreements with United Airlines and Frontier Airlines.