Olaf gets cc'd by Ornn while Olaf is in his ultimate.

That's working as intended. Olaf ult doesn't remove active displacements, it just disables any future ones cast after he ults. Ornn e'd into the wall just before you ulted, so you were already airborne when you ulted.

I have looked up and just tested in practice tool that if you are airbourne and use ult it will not remove that instance of airborne until the effect has ended. looking at this video the ult of Olaf was used just after the airborne

Olaf ult doesn't remove effects like Airborne or Stasis. It can prevent those effects, but it can't remove them.

Not a bug.

I play Olaf and honestly.. I dont even think it would make since for him to just magically drop down to the floor after I ulted. 1. I dont think the coding for the game would allow that, I think being airborne is something a little more complicated than getting out of a trap. 2. It wouldn't look normal. Like you're half way up and then just immediately show up on the floor? I mean the code would have to summon the champion back on the same spot.

What I could see working is diminishing the time of the lift. instead of lasting .5 more secs cut it down to .1 or something.