The reason the Jersey route was dropped was for a number reasons i believe.
British Midland Mainline returned some Airbuses and they needed to bring in an Airbus from another route and so it required the Airbus from the LBA-LHR-LBA route leaving the route with no aircraft.
By doing this they had to aquire a BM Reginal E145 to operate these sectors and the only way to get this aircraft was to drop the Jersey service.
This was all done at short notice if there had been i believe a lot more time BMI Baby may well have been interested in operating a service but with very little notice this would not be possible.
Will BMI Baby or Jet2 ever start this service up we can only waite and see.
