great_lakes_aviation_reports

Great Lakes Aviation Reports January Traffic

CHEYENNE, Wyo., Feb. 5 Great Lakes Aviation, Ltd (Nasdaq: GLUX - news) today announced preliminary passenger traffic results for the month of January.

Scheduled service generated 9,567,628 revenue passenger miles (RPMs), a 45.9 percent decrease from the same month last year. Available seat miles (ASMs) decreased 29.1 percent to 30,330,631. As a result load factor decreased 9.8 points to 31.5 percent. Passengers carried decreased 50.6 percent compared to January, 2001 to 37,072.

Traffic declines were a reflection of planned reductions in capacity 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.

Subsidized essential air service flying at 28 smaller communities accounted for more than half of the company's departures in January. Lower traffic levels at these locations coupled with the reduction in flying at non-subsidized points resulted in lower load factors that historically experienced. Subsidy payments to the company in January translates to more than twelve points of load factor when equivalent revenue passenger miles are considered.

                                JANUARY STATISTICS

                                  Jan. 2002       Jan. 2001        Change
     Passengers Enplaned             37,072          74,972        -50.6%
     Revenue Passenger Miles (000)    9,568          17,675        -45.9%
     Available Seat Miles (000)      30,331          42,757        -29.1%
     Load Factor                      31.5%           41.3%     -9.8 Pts.

As of February 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 218 weekday flights are scheduled at four hubs, with 176 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 and Frontier Airlines.