1 July 2014
Great Lakes Aviation, Ltd. (OTCBB: GLUX) said it has engaged Raymond James as its investment banker to advise the company with respect to new financing options and strategic alternatives.
As part of its assignment, Raymond James will also assist the company in evaluating changes to its business and fleet configuration.
In March of this year the company was successful at certifying new FAA operations specifications that have enabled the company to hire pilots despite recent regulatory changes that have had the effect of materially reducing the supply of qualified pilot applicants for the regional airline sector in general.
Great Lakes provides scheduled passenger service to over 30 airports throughout the mid-west and western United States operating a fleet of Embraer EMB-120 Brasilias, and Beechcraft 1900D regional airliners. A current route map may be viewed by going to www.flygreatlakes.com/route_map/current_map.htm.