<Page> Exhibit 10.34 [INDIANAPOLIS AIRPORT AUTHORITY LOGO] [INDIANAPOLIS INTERNATIONAL AIRPORT LETTERHEAD] DAVID J. ROBERTS AIRPORT DIRECTOR July 17, 2000 Mr. Hal Cooper Vice President/CFO Chautauqua Airlines 2500 S. High School Road, Suite 120 Indianapolis, IN 46241-4941 RE: Letter of Agreement Indianapolis International Airport Dear Hal: In a meeting with Jeannie Weiss, Eric Anderson and myself on March 28, 2000, you and Wayne Heller requested that the vestibule on the Fourth Floor of Chautauqua's leased premises be removed from your leasehold. According to my calculations, this vestibule is approximately 289.8 square feet. This removal of space will affect not only your current rental rates, but the two remaining option periods Chautauqua has on this fourth floor space. The removal of this 289.8 square feet will leave a total of 4,894.85 square feet on fourth floor office space. The following are calculations for the current rental period and the two option periods remaining: AUGUST 1, 2000 THROUGH JU1Y 31, 2001 4894.85 sq. ft. X $11.00 per sq. ft. = $53843.35 per year, payable at $4486.95 per month AUGUST 1, 2001 THROUGH JULY 31, 2002 4894.85 sq. ft. X $11.50 per sq. ft. = $56290.78 per year, payable at $4690.90 per month. AUGUST 1, 2002 THROUGH JULY 31, 2003 4894.85 sq. ft. X $ 12.00 per sq. ft. = $58738.20 per year, payable at $4894.85 per month. This removal of leasehold will be made effective April 1, 2000 and the appropriate rental credit for the months of April through August will be issued to Chautauqua. [RECYCLED SYMBOL] <Page> Letter of Agreement July 17, 2000 Page Two Please remember that the removal of this vestibule from Chautauqua's leasehold opens this area up to the public. The double glass doors in the hallway will be removed, and the keycores to both the middle stairwell and elevators will be changed to allow for common usage. Please sign below to indicate your acceptance of this Letter of Agreement to remove 289.8 square feet from Chautauqua's leasehold. Please call me at 487-5225 if you have any questions or concerns. Sincerely, /s/ Andria A. Kerney Andria A. Kerney Property Manager Cc: Jeannie Weiss By /s/ Wayne Heller Date 9/22/00 ----------------------------- ------------ Title V.P. & COO -------------------------- Chautauqua Airlines