Great Lakes Aviation, Ltd. Reports October 2004 Traffic CHEYENNE, Wyo., Nov. 16 /PRNewswire-FirstCall/ -- Great Lakes Aviation, Ltd. (OTC:GLUX) (BULLETIN BOARD: GLUX) today announced preliminary passenger traffic results for the month of October. Scheduled service generated 11,713,002 revenue passenger miles (RPM's), a 3.3 percent increase from the same month last year. Available seat miles (ASM's) declined 9.9 percent to 24,305,048. As a result, load factor increased 6.1 points to 48.2 percent. Passengers carried increased 4.4 percent to 42,329 when compared with October 2003. For the ten months ending October 31, 2004 compared to the same period in 2003, revenue passenger miles (RPM's) increased 13.0 percent to 113,270,483 as available seat miles (ASM's) decreased 0.1 percent to 272,036,671, resulting in a load factor of 41.6 percent for the year 2004 compared to 36.8 percent for the same period in 2003. The company carried 409,402 revenue passengers for the ten month period ending October 31, 2004, a 12.7 percent increase on a year-over-year basis. OCTOBER AND YEAR TO DATE STATISTICS October 2004 October 2003 Change Passengers Enplaned 42,329 40,557 4.4% Revenue Passenger Miles (000) 11,713 11,342 3.3% Available Seat Miles (000) 24,305 26,966 -9.9% Load Factor 48.2% 42.1% 6.1 points YTD 2004 YTD 2003 Change Passengers Enplaned 409,402 363,253 12.7% Revenue Passenger Miles (000) 113,270 100,243 13.0% Available Seat Miles (000) 272,037 272,237 -0.1% Load Factor 41.6% 36.8% 4.8 points Great Lakes is providing scheduled passenger service at 31 airports in nine states with a fleet of Embraer EMB-120 Brasilias and Raytheon/Beech 1900D regional airliners. A total of 160 weekday flights are scheduled at two hubs, with 156 flights at Denver and 4 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 http://www.greatlakesav.com/ Contact: Dave Thomas, VP Marketing and Planning (307) 432-7000 DATASOURCE: Great Lakes Aviation, Ltd. CONTACT: Dave Thomas, VP Marketing and Planning of Great Lakes Aviation, Ltd., +1-307-432-7000 Web site: http://www.greatlakesav.com/

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