I can't see 5 flights daily being replaced, but you would think somebody would be interested in one or perhaps two flights a day.
In a dream scenario BA would tag LBA-BHD on to a LHR-LBA service, although that will never happen as BA have zero interest in non London routes.
If there is a downturn in international travel then it might be attractive to Jet2 to use spare capacity to restore their former BFS-LBA routes as there is now no competiton from Flybe.
BHD were very reliant on Flybe so you could imagine they will be offering very good deals for airlines to start routes from there so you might even see Jet2 tempted fly from there. Ryanair don't have that many flights from BFS anymore, so although the pulled out of BHD previously they could be tempted back, and I'm sure a LBA route with no competition would be attractive.
On the off chance Jet2 started the route, I’d imagine it would be to BFS not BHD, since it’s one of their own bases.