If Flylolo has now def canx their remaining SOU S19 program bar the JSI flight (to be op again by Flybe?) then it is indeed a great blow to SOU.
Their website today is slow and clunky and the JSI dates have also gone off except 2 one-off dates in Aug and Sep.
I think we all know that their problem to source a suitable airline and aircraft type to enable these ops from SOU was a formidable task, and was known at least 6 months ago , given the constraints of operating from SOU to 3-4 hour length destinations with around 100 seats...
Now couple that with both the latest charter airline failures, and the 737 MAX debacle I would think that there are simply no aircraft available.
Edit
Had Flybe been in better shape then they perhaps could have had a based EMB jet at SOU for charter OPs such as what Flylolo wanted.
(like BACF do all weekend at various UK airports all summer long with a big Med IT programme)