Great Lakes Aviation, Ltd. (Great Lakes Airlines 2nd) (Cheyenne, Wyoming) has issued this statement:
Great Lakes Aviation has announced 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. The reductions in small community air service capacity seen across the U.S. in 2014 are a result of this same reduced pilot supply, and are creating the need for a re-invented regional airline industry. The Company intends to respond to that need.
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.
Copyright Photo: Ton Jochems/AirlinersGallery.com. Beech 1900D N220GL (msn UE-220) in the promotional tail design for Alamosa, Colorado taxies at Los Angeles.
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