March Traffic Results

SPENCER, Iowa, April 2, 1998-- Great Lakes Aviation, Ltd. (Nasdaq: GLUX) today announced preliminary passenger traffic results for the month of March.

Scheduled service generated 15,368,000 revenue passenger miles (RPMs), a 37.6 percent decrease from the same month last year. Available seat miles (ASMs) declined 42.6 percent to 32,045,000. As a result load factor improved 3.9 points to 48.0 percent, a company record for the month of March. The company carried 52,274 passengers, a 35.2 percent decrease compared to March, 1997.

For the three month period ended March 31, 1998 compared to the same three month period in 1997, RPMs declined 34.5 percent to 42,117,000 while ASMs declined 40.0 percent to 93,098,000, resulting in a load factor of 45.2 percent for 1998 compared to 41.5 percent for the same three month period in 1997. The company carried 142,054 passengers for the three months ended March 31, 1998, a 33.0 percent decrease on a year over year basis.

FEBRUARY AND YEAR-TO-DATE STATISTICS

March 1998 traffic and capacity levels reflect the elimination of flying in the southeastern United States where the company had operated flights a year ago under the Midway Connection identity. Also, all flying has been eliminated in Arizona and Sonora, Mexico.

As of March 31, 1998, scheduled service was being provided at 51 airports in eleven states with a fleet of eight Embraer EMB-120 Brasilias and 26 Beechcraft 1900s. In its United Express route structure, a total of 178 weekday flights are offered at its three hubs with 106 flights at Chicago-O'Hare, 50 at Denver and 22 at Minneapolis-St. Paul.

In addition, the company continues to operate 16 weekday flights between Springfield, Ill. and Chicago-Meigs Field under the Great Lakes Airlines marketing identity.

As previously announced, the company will add United Express service at 14 additional points from its Denver hub beginning April 23, 1998 replacing service currently being provided by Mesa Airlines. Also, on April 23, 1998 Great Lakes Aviation will terminate its United Express service between Minot, North Dakota and Denver.

Additional company information is available on its web site which may be accessed at www.greatlakesav.com