Complex sentence: The airline was given approval to be established on 26 May 2004, It took delivery of its first aircraft, an Airbus A320 (formerly of Lotus Air), on 12 July 2005, at Shanghai Hongqiao International Airport.
Split into simpler sentences: The airline was given approval to be established on 26 May 2004. Its first aircraft, an Airbus A320 (formerly of Lotus Air), was delivered on 12 July 2005, at Shanghai Hongqiao International Airport.