Posted on: 30 June 2014 by Mark Howells
Great Lakes Aviation has engaged Raymond James as its investment banker to advise the company with respect to new financing options and strategic alternatives as well as assisting the airline in evaluating changes to its business and fleet configuration.
In March 2014, Great Lakes Aviation was successful at certifying new FAA Operations Specifications that have enabled it 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 company noted that the reductions in small community air service capacity seen across the US in 2014 are a result of this same reduced pilot supply, and are creating the need for a re-invented regional airline industry, to which the company says it intends to respond.
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 1900Ds.
Photo: Martin Rottler