FOR IMMEDIATE RELEASE Contact: Dave Thomas, VP Marketing and Planning

       (307) 432-7000

Great Lakes Aviation, Ltd. Reports March 2004 Traffic

CHEYENNE, Wyo., April 19, 2004 � Great Lakes Aviation, Ltd. (OTC Bulletin Board: GLUX.OB � news) today announced preliminary passenger traffic results for the month of March.

Scheduled service generated 11,832,000 revenue passenger miles (RPM�s), a 42.3 percent increase from the same month last year.  Available seat miles (ASM�s) increased 17.2 percent to 29,686,000.  As a result, load factor increased 7.1 points to 39.9 percent. Passengers carried increased 35.1 percent to 41,670 when compared with March 2003.

For the three months ending March 31, 2004 compared to the same three month period in 2003, revenue passenger miles (RPM�s) increased 29.7 percent to 32,741,000 while available seat miles (ASM�s) increased 8.7 percent to 86,144,000, resulting in a load factor of 38.0 percent for the year 2004 compared to 31.8 percent for the same three month period in 2003.  The company carried 116,568 revenue passengers for the three month period ending March 31, 2004, a 24.3 percent increase on a year over year basis.

MARCH AND YEAR TO DATE STATISTICS

     March 2004 March 2003 Change

Passengers Enplaned  41,670   30,849  35.1%

Revenue Passenger Miles (000) 11,832   8,312   42.3%

Available Seat Miles (000) 29,686   25,321  17.2%

Load Factor    39.9%  32.8%      7.1 points

     YTD 2004 YTD 2003 Change

Passengers Enplaned  116,568 93,780   24.3%

Revenue Passenger Miles (000) 32,741   25,244  29.7%

Available Seat Miles (000) 86,144   79,261      8.7%

Load Factor    38.0%  31.8%      6.2 points

Great Lakes is providing scheduled passenger service at 37 airports in ten states with a fleet of Embraer EMB-120 Brasilias and Raytheon/Beech 1900D regional airliners. A total of 170 weekday flights are scheduled at three hubs, with 160 flights at Denver, 4 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 at the Denver hub.

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

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