Great Lakes Aviation, Ltd. Reports October 2006 Traffic

CHEYENNE, Wyo., Nov. 9 /PRNewswire-FirstCall/ -- Great Lakes Aviation, Ltd. (OTC Bulletin Board: GLUX) today announced preliminary passenger traffic results for the month of October 2006.

Scheduled service generated 12,178,000 revenue passenger miles (RPM's), a 14.6 percent increase from the same month last year. Available seat miles (ASM's) increased 1.0 percent to 24,024,000. As a result, load factor increased 6.0 points to 50.69 percent. Passengers carried increased 16.4 percent to 46,382 when compared to October 2005. Preliminary revenue per available seat mile (RASM) increased 6.9 percent from 29.17 cents to 31.17 cents.

For the ten months ending October 31, 2006 compared to the same ten month period in 2005, revenue passenger miles (RPM's) increased 13.4 percent to 110,985,000 and available seat miles (ASM's) increased 2.4 percent to 239,403,000, resulting in a load factor of 46.36 percent for the year 2006 effecting an increase in load factor of 4.7 points compared to the same ten month period in 2005. The company carried 425,185 revenue passengers for the ten month period ending October 31, 2006, a 15.6 percent increase from the prior year. Preliminary revenue per available seat mile (RASM) increased 15.5 percent from 25.93 cents to 29.91 cents on a year-over-year basis.

                   OCTOBER 2006 AND YEAR TO DATE STATISTICS

                                     Oct-06          Oct-05        Change
    Passengers Enplaned              46,382          39,836         16.4%
    Revenue Passenger Miles (000)    12,178          10,634         14.6%
    Available Seat Miles (000)       24,024          23,804          1.0%
    Load Factor                       50.69%          44.68%         6.0 pts
    RASM (cents)                      31.17           29.17          6.9%

                                   YTD 2006        YTD 2005        Change
    Passengers Enplaned             425,185         367,795         15.6%
    Revenue Passenger Miles (000)   110,985          97,875         13.4%
    Available Seat Miles (000)      239,403         233,799          2.4%
    Load Factor                       46.36%          41.66%         4.7 pts
    RASM (cents)                      29.91           25.93         15.5%

Great Lakes is providing scheduled passenger service at 39 airports in nine states with a fleet of Embraer EMB-120 Brasilias and Raytheon/Beech 1900D regional airliners. A total of 190 weekday flights are scheduled at three hubs, with 132 flights at Denver, 8 flights at Albuquerque, and 20 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 and Phoenix Sky Harbor International Airport hubs.

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

Contact: Michael Matthews, VP Finance/CFO

              (307) 432-7000