Complex sentence: Soon after its demise, the company pledged to make a comeback as a charter-only airline, but on May 13,2005, the airline officially declared bankruptcy, cancelled plans to relaunch service, and began the process of liquidation.
Split into simpler sentences: Soon after its demise, the company pledged to make a comeback as a charter-only airline. But on May 13,2005, the airline officially declared bankruptcy, cancelled plans to relaunch service, and began the process of liquidation.