Great Lakes Reports September and Thrid Quarter 1998 Traffic

GREAT LAKES AVIATION REPORTS SEPTEMBER AND THIRD QUARTER, 1998 TRAFFIC; THIRD QUARTER RESULTS SET A RECORD FOR THE COMPANY; SEPTEMBER LOAD FACTOR UP 9.6 POINTS TO 58.5%

Spencer, Iowa -- October 6, 1998 -- Great Lakes Aviation, Ltd. (NASDAQ:GLUX) today announced preliminary passenger traffic results for the month of September.

Scheduled service generated 26,706,000 revenue passenger miles (RPMs), a 63.2 percent increase from the same month last year. Available seat miles (ASMs) increased 36.5 percent to 45,665,000. As a result load factor increased 9.6 points to 58.5 percent. The company carried 91,648 passengers, a 72.2 percent increase compared to September, 1997.

Third quarter results represent a record in terms of load factor for the company. For the three months ended September 30, 1998 RPMs increased 63.2 percent to 80,610,000 compared to the same three months in 1997 while ASMs increased by 50.6 percent to 140,777,000 for the quarter in 1998 compared to 1997. As a result, load factor improved to 57.3 percent for 1998 compared to 52.9 percent for the same three month period in 1997. The company carried 277,624 passengers for the three months ended September 30, 1998, a 72.5 percent increase compared to the same three months in 1997.

For the nine month period ended September 30, 1998 compared to the same nine month period in 1997, RPMs increased 15.4 percent to 181,970,000 while ASMs increased 1.2 percent to 349,807,000, resulting in a load factor of 52.0 percent for 1998 compared to 45.6 percent for the same nine month period in 1997. The company carried 627,017 passengers for the nine months ended September 30, 1998, a 19.3 percent increase on a year over year basis.

"The company is very pleased with its September and third quarter performance" said Douglas G. Voss, Great Lakes' President and Chief Executive Officer. "Although the company did realize some additional revenue benefit from the pilot strike against Northwest Airlines, the significant improvement in operating results is attributable to a large extent to the expansion of its operations at United Airlines' Denver hub" he added.

	Sept. 1998	Sept. 1997	Change
Passengers Enplaned	91,648	53,213	+72.2%
Revenue Passenger Miles (000)	26,706	16,366	+63.2%
Available Seat Miles (000)	45,665	33,464	+36.5%
Load Factor	58.5%	48.9%	+9.6 Pts.

	3rd Qtr 1998	3rd Qtr 1997	Change
Passengers Enplaned	277,624	160,969	+72.5%
Revenue Passenger Miles (000)	80,610	49,400	+63.2%
Available Seat Miles (000)	140,777	93,447	+50.6%
Load Factor	57.3%	52.9%	+4.4 Pts.

	YTD 1998	YTD 1997	Change
Passengers Enplaned	627,017	525,387	+19.3%
Revenue Passenger Miles (000)	181,970	157,745	+15.4%
Available Seat Miles (000)	349,807	345,678	+1.2%
Load Factor	52.0%	45.6%	+6.4 Pts.

As of October 1, 1998, scheduled service was being provided at 68 airports in thirteen states with a fleet of eight Embraer EMB-120 Brasilias and 40 Beechcraft 1900Ds. A total of 264 weekday flights offered at three hubs, 98 flights at Chicago-O'Hare, 144 at Denver and 22 at Minneapolis-St. Paul. In addition, the company operates 16 weekday flights between Springfield, IL and Chicago-Meigs Field. All scheduled flights are operated under the United Express marketing identity.