A320,that sounds like a good analysis,I.e. the detail about the waves, so it seems on the basis of that a non arguement to suggest that they want an 06:00 departure.
BHD will have a new DSA route with BE this summer, and that will comfortably cover the loss of the KEF route. US connections are comfortably catered for via LHR AMS, or some obviously drive down to Dublin.
Nonetheless, despite the investment talked about and recent sale, it seems hard to see , in the face of current incumbents in the market ,it seems hard to see any of the airlines at BFS moving over.
Ryanair now have some examples of a 738 with short field capabilities, so in the fullness of time it is conceivable that they could operate to BHD from UK airports, and they did have what appeared publically to be a great relationship with BHD. Clearly, the need to serve currently unserved routes to get an attractive deal, so BRS, STN and LTN would appear to be the only gaping opportinities, though all of that is speculation.