Yes it's true the LBA-ORK is being scrapped. Apparently something to do with increased fees at Cork because of the new terminal. Something like that anyway.
That, and the fact that next to nobody uses the service seeing as you can get to ORK at a fraction of the price from MAN. Same reason the JER service bit the dust. JER and ORK from LBA are completely uncompetitive charging full service fares when there are low cost options offered from other airports nearby.