Great Lakes Aviation, Ltd. Reports May Traffic 

CHEYENNE, Wyo., June 18 � Great Lakes Aviation, Ltd. (NASDAQ:  GLUX � news) today announced preliminary passenger traffic results for the month of May. 

Scheduled service generated 11,411,000 revenue passenger miles (RPM�s), a 42.4 percent decrease from the same month last year.  Available seat miles (ASM�s) decreased 19.8 percent to 30,587,000.  As a result, load factor decreased 15 points to 37.3 percent.  Passengers carried decreased 45.7 percent compared to May 2001 to 42,462. 

For the five months ending May 31, 2002 compared to the same five month period in 2001, revenue passenger miles (RPM�s) decreased 41.4 percent to 53,179,000 while available seat miles (ASM�s) decreased 24.4 percent to 145,489,000, resulting in a load factor of 36.6 percent for the year 2002 compared to 47.1 percent for the same five month period in 2001.  The company carried 202,810 revenue passenger for the five month period ending May 31, 2002, a 46.3 percent decrease on a year over year basis. 

Traffic reflects reductions in capacity that was made following the events of September 11, 2001.  In addition, the company significantly reduced flying at its� Chicago � O�Hare hub beginning in May 2001. 

MAY AND YEAR TO DATE STATISTICS 

                                                                        May 2002       May 2001            Change

Passengers Enplaned                                      42,464             78,206             - 45.7%

Revenue Passenger Miles (000)                      11,411             19,821             - 42.4%

Available Seat Miles (000)                                 30,587             38,148             - 19.8% 

Load Factor                                                          37.3%              52.0%          - 15 points 

                                                                        YTD 2002    YTD 2001            Change

Passengers Enplaned                                     202,810            377,399          - 46.3%

Revenue Passenger Miles (000)                        53,179             90,703           - 41.4%

Available Seat Miles (000)                                 145,489           192,470          - 24.4%

Load Factor                                                         36.6%              47.1%           - 10.5 points 

As of June 1, 2002, scheduled service was being provided at 48 airports in fifteen states with a fleet of Embraer EMB-120 Brasilias and Raytheon/Beech 1900D regional airliners.  A total of 212 weekday flights are scheduled at four hubs, with 168 flights at Denver, 24 flights at Chicago � O�Hare International Airport, 14 flights at Minneapolis/St. Paul, and 6 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.