Analysis: Although Great Lakes appears to have turned around its operations by posting a profitable first half, the company did not generate enough cash to cover its debt and aircraft lease payments. The company made some principal and interest payments, but it fell $13.5 million short of what was required.

Analysis: The company's tradition core business - ferrying about checks and bank papers - remains strong and it has been successful in diversifying its business into express delivery services and deluxe passenger charters. However, the costs of setting up the new business lines resulted in a net loss for the second quarter. It now has 14 Learjets devoted to its charter business.

Analysis: Bombardier posted a smaller second quarter profit this year than last year because of declining sales in both its aerospace and its train divisions. The sales of the smaller business jets picked up in the second quarter while the sales of the regional jets have slipped. Bombardier delivered 52 regional jets in the last three months compared to the 66 delivered in the same period of 2003. The largest decline was in the sales of the CRJ 200 models. However, net orders stand at 71 compared to 67 a year ago.