Great Lakes Aviation, Ltd. Reports December 2011 Traffic and a Decrease in the Number of Shares of Common Stock Outstanding

CHEYENNE, Wyo., Jan. 9, 2012 /PRNewswire/ -- Great Lakes Aviation, Ltd. (OTC Bulletin Board: GLUX) (along with the "Company" or "Great Lakes") today announced preliminary passenger traffic results for the month of December 2011 and year ending December 31, 2011.

DECEMBER 2011 AND YEAR ENDING STATISTICS

 

 

Dec-11           

Dec-10               

Change          

Passengers Enplaned                

43,897

42,462

3.4%

Revenue Passenger Miles (000)   

14,054

13,022

7.9%

Available Seat Miles (000)           

29,854

32,487

(8.1)%

Load Factor                                 

47.1%

40.1%

7.0 pts

RASM (cents)                              

34.32

31.24

9.9%

 

 

 

 

 

YTD 2011    

YTD 2010    

Change          

Passengers Enplaned                

523,601

499,439

4.8%

Revenue Passenger Miles (000)     

162,893

149,131

9.2%

Available Seat Miles (000)              

370,376

388,162

(4.6)%

Load Factor                                  

44.0%

38.4%

5.6 pts

RASM (cents)                           

33.08

31.36

5.5%

 

SHARES OF COMMON STOCK OUTSTANDING REDUCED FROM 14,291,970 TO 8,919,990

On November 16, 2011, the Great Lakes Aviation, Ltd. obtained $29.5 million of funding available under a new financing facility.  On that day, the debt obligations with Great Lakes' previous lender, Raytheon Aircraft Credit Corporation, were extinguished and 5,371,980 shares of the Company's common stock owned by Raytheon Aircraft Credit Corporation were returned to the Company.  The Company has subsequently cancelled these shares and returned such shares to the Company's authorized but unissued common stock.  After giving effect to the cancellation of these shares, the number of shares of common stock issued and outstanding was reduced from 14,291,970 shares to 8,919,990 shares.

Great Lakes is providing scheduled passenger service at 44 airports in twelve states with a fleet of Embraer EMB-120 Brasilias and Beechcraft 1900D regional airliners.  Additional information is available at http://www.flygreatlakes.com/  including a current route map at http://www.flygreatlakes.com/route_map/route_map.htm.

All scheduled flights are operated under the Great Lakes Airlines marketing identity in conjunction with code-share agreements with United Airlines and/or Frontier Airlines at our Albuquerque, Denver, Los Angeles and Phoenix hubs.  In December 2011, Great Lakes Airlines commenced service from Devils Lake, ND to Minneapolis, MN.

SOURCE Great Lakes Aviation, Ltd.



RELATED LINKS
http://www.flygreatlakes.com

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