Uncertainty over the future of the Essential Air Service (EAS) program is causing problems for Great Lakes Aviation’s efforts to refinance its debt. As with many carriers, the Cheyenne, Wyo.-based regional airline historically used debt to finance the purchase of its aircraft, and as of March 31 had $36 million of long-term debt payments or debt maturity debt payments due in the next 12 months. The largest portion of its debt was held by the company’s principal creditor and largest ...
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