FOR IMMEDIATE RELEASE Contact: Michael Matthews, VP Finance/CFO

       (307) 432-7000

Great Lakes Aviation, Ltd. Reports March 2005 Traffic

CHEYENNE, WY, April 14, 2005 � Great Lakes Aviation, Ltd. (OTC Bulletin Board: GLUX.OB � news) today announced preliminary passenger traffic results for the month of March.

Scheduled service generated 10,322,000 revenue passenger miles (RPM�s), a 12.8 percent decrease from the same month last year.  Available seat miles (ASM�s) decreased 19.1 percent to 24,010,000.  As a result, load factor increased 3.1 points to 43.0 percent.  Passengers carried decreased 7.8 percent to 38,430 when compared to March 2004. Preliminary revenue per available seat mile (RASM) increased 19.8 % from 20.60 cents to 24.67 cents.

For the three months ending March 31, 2005 compared to the same three month period in 2004, revenue passenger miles (RPM�s) decreased 14.0 percent to 28,149,000 and available seat miles (ASM�s) decreased 23.2 percent to 66,128,000, resulting in a load factor of 42.6 percent for the year 2005 compared to 38.0 percent for the same three month period in 2004. The company carried 104,633 revenue passengers for the three month period ending March 31, 2005, a 10.2 percent decrease from the prior year.  Preliminary revenue per available seat mile (RASM) increased 18.8% from 20.25 cents to 24.06 cents on a year-over-year basis.

The company is particularly pleased with the19.8% increase in RASM from the same month prior year.  This was accomplished by reductions in system capacity due to elimination of unprofitable markets in the prior year and participation in recent industry wide fare increases.

On March 1^st Great Lakes Airlines initiated new services from Phoenix to Fort Huachuca/Sierra Vista and on March 13^th new services began to both Enid and Ponca City, OK with one-stop services to Denver.

April traffic and capacity will reflect new services that began on April 3^rd to both Silver City and Clovis, New Mexico to Albuquerque. Additionally, Great Lakes Airlines will initiate new services from Phoenix to Show Low, Arizona on May 1^st and between Phoenix and both Kingman and Prescott, Arizona on June 5^th.

MARCH 2005 AND YEAR TO DATE STATISTICS

March 2005  March 2004  Change

Passengers Enplaned  38,430   41,670  (7.8%)

Revenue Passenger Miles (000) 10,322   11,832    (12.8%)

Available Seat Miles (000) 24,010   29,686  (19.1% )

Load Factor    43.0%   39.9%   3.1 points

RASM (cents)   24.67  20.60  19.8%

YTD 2005  YTD 2004  Change

Passengers Enplaned  104,633  116,568 (10.2%)

Revenue Passenger Miles (000) 28,149   32,741  (14.0%)

Available Seat Miles (000) 66,128   86,144  (23.2%)

Load Factor    42.6%   38.0%   4.6 points

RASM (cents)   24.06  20.25  18.8%

Great Lakes is providing scheduled passenger service at 36 airports in ten states with a fleet of Embraer EMB-120 Brasilias and Raytheon/Beech 1900D regional airliners. A total of 174 weekday flights are scheduled at three hubs, with 156 flights at Denver, 10 flights at Albuquerque, and 8 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 International Airport hub.

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