Complex sentence: Having been renamed CP Air in 1968 with a new orange livery, the airline in 1986 reverted to its original name of Canadian Pacific Air Lines, with a new navy blue color scheme and logo.
Split into simpler sentences: Having been renamed CP Air in 1968, the airline in 1986 reverted to its original name of Canadian Pacific Air Lines. The rebranding included replacing its trademark orange livery with a new navy blue color scheme and logo.