It will be released in the coming days operating as once daily from the middle of March 2014 - the route is not ending its simply very seasonal with virtually not enough demand to be viable in the winter months (Nov to Feb inclusive).
Shannon Faro Rotation is loaded
If you also notice the Shannon flight times it seems to indicate a Faro based aircraft operates the service however a Cork based aircraft does it goes;
Cork->Faro->Shannon->Faro->Cork
So the Cork-Faro schedule won't be too long, along with Cork to Palma Majorca