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Great Lakes Aviation, Ltd. Announces Completion of Financial Restructuring and Promotion of Chuck Howell to Chief Executive Officer.
Publication: PR Newswire Publication Date: 31-DEC-02 |
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COPYRIGHT 2002 PR Newswire Association LLC
Great Lakes Aviation, Ltd. (BULLETIN BOARD: GLUX) announced today that it has successfully completed the restructuring of the aircraft financing provided by Raytheon Aircraft Credit Corporation ("RACC") to Great Lakes with respect to its fleet of Beech 1900D and 1900C Aircraft. This restructuring, which Great Lakes and RACC began discussing earlier this year, results in significant improvements to Great Lakes' cost structure and balance sheet, as well as a 36% equity holding by RACC. It also returns Great Lakes...
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