Complex sentence: On 17 July 1995 it was reorganized from a state owned company into a Joint Stock Company and in August 1997 the shares of Air Lithuania were transferred to the parent company Lithuanian Airlines.
Split into simpler sentences: On 17 July 1995, it was reorganized from a state-owned company into a Joint Stock Company. In August 1997, the shares of Air Lithuania were transferred to the parent company Lithuanian Airlines.