Great Lakes Aviation, Ltd. Reports February 2008 Traffic

CHEYENNE, Wyo., March 7 /PRNewswire-FirstCall/ -- Great Lakes Aviation, Ltd. OTCBulletinBoard: GLUX today announced preliminary passenger traffic results for the month of February 2008.

Scheduled service generated 12,265,000 revenue passenger miles (RPM's), a 16.7 percent increase from the same month last year. Available seat miles (ASM's) increased 18.9 percent to 27,122,000. As a result, load factor decreased 0.9 points to 45.21 percent. Passengers carried increased 16.4 percent to 45,517 when compared to February 2007. Preliminary revenue per available seat mile (RASM) increased 6.2 percent from 28.42 cents to 30.17 cents.

For the two months ending February 28, 2008 compared to the same two month period in 2007, revenue passenger miles (RPM's) increased 14.1 percent to 24,170,000 and available seat miles (ASM's) increased 15.5 percent to 54,708,000, resulting in a load factor of 44.18 percent for the year 2008 effecting an decrease in load factor of 0.5 points compared to the same two month period in 2007. The company carried 90,069 revenue passengers for the two month period ending February 29, 2008, a 13.5 percent increase from the prior year. Preliminary revenue per available seat mile (RASM) increased 6.6 percent from 27.75 cents to 29.59 cents on a year-over-year basis.

                  FEBRUARY 2008 AND YEAR TO DATE STATISTICS

                                   Feb-08         Feb-07         Change
    Passengers Enplaned            45,517         39,113         16.4%
    Revenue Passenger Miles (000)  12,265         10,510         16.7%
    Available Seat Miles (000)     27,122         22,815         18.9%
    Load Factor                    45.21%         46.07%         (0.9) pts
    RASM (cents)                   30.17          28.42           6.2%

                                   YTD 2008       YTD 2007       Change
    Passengers Enplaned            90,069         79,375         13.5%
    Revenue Passenger Miles (000)  24,170         21,189         14.1%
    Available Seat Miles (000)     54,708         47,378         15.5%
    Load Factor                    44.18%         44.72%         (0.5) pts
    RASM (cents)                   29.59          27.75           6.6%

Great Lakes is providing scheduled passenger service at 44 airports in twelve states with a fleet of Embraer EMB-120 Brasilias and Raytheon/Beech 1900D regional airliners. A total of 232 weekday flights are mostly scheduled at five hubs, with 148 flights at Denver, 8 flights at Albuquerque, 12 flights at Phoenix, 20 flights at St. Louis and 12 flights at Kansas City, MO. 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 and Phoenix Sky Harbor International Airport hubs.

Additional information is available on the company web site that may be accessed at http://www.flygreatlakes.com

Contact: Michael Matthews, VP Finance/CFO

               (307) 432-7000