Great Lakes Reports May 1998 Traffic

GREAT LAKES AVIATION REPORTS MAY, 1998 TRAFFIC; LOAD FACTOR UP 3.9 POINTS TO 49.2%

Spencer, Iowa -- June 4, 1998 -- Great Lakes Aviation, Ltd. (NASDAQ:GLUX) today announced preliminary passenger traffic results for the month of May.

Scheduled service generated 19,183,000 revenue passenger miles (RPMs), a 39.5 percent increase fro the same month last year. Available seat miles (ASMs) increased 28.3 percent to 38,967,000. As a result load factor improved 3.9 points to 49.2 percent. The company carried 67,893 passengers, a 46.5 percent increase compared to May, 1997.

For the five month period ended may 31, 1998 compared to the same five month period in 1997, RPMs declined 23.2 percent to 77,951,000 while ASMs declined 30.7 percent to 166,650,000, resulting in a load factor of 46.8 percent for 1998 compared to 42.2 percent for the same five month period in 1997. The company carried 266,873 passengers for the five months ended May 31, 1998, a 20.8 percent decrease on a year over year basis.

	May. 1998	May. 1997	Change
Passengers Enplaned	67,893	46,349	+46.5%
Revenue Passenger Miles (000)	19,183	13,754	+39.5%
Available Seat Miles (000)	38,967	30,361	+28.3%
Load Factor	49.2%	45.3%	+3.9 Pts.

	YTD 1998	YTD 1997	Change
Passengers Enplaned	266,873	337,049	-20.8%
Revenue Passenger Miles (000)	77,951	101,471	-23.2%
Available Seat Miles (000)	166,650	240,405	-30.7%
Load Factor	46.8%	42.2%	+4.6 Pts.

May, 1998 traffic and capacity levels reflect the addition of 14 new cities in the company's United Express network at Denver. May, 1997 results were affected by the voluntary suspension of all operations for a one week period under a consent agreement with the FAA. Service was resumed on May 23, 1997 at a substantially reduced level and was focused on the United Express routes at Chicago-O'Hare.

As of June 1, 1998, scheduled service was being provided at 68 airports in thirteen states with a fleet of six Embraer EMB-120 Brasilias and 35 Beechcraft 1900s. In its United Express route structure, a total of 246 weekday flights are offered at its three hubs with 102 flights at Chicago-O'Hare, 122 at Denver and 22 at MInneapolis-St. Paul.

In addition, the company continues to operate 16 weekday flights between Springfield, IL and Chicago-Meigs Field under the Great Lakes Airlines marketing identity. As previously announced, the company will convert the Meigs flights to operate as United Express service beginning June 15, 1998.