If bmi have any slots yet to sell then I suspect they would be keen to pass these on to a fellow Star member, as was the case with Swiss. However I can't really see another Star member starting LHR-TLV, since it would not make any sense!
There is a significant demand for UK-Israel travel but easyJet and Jet2 arre now in on the act as well as the flag carriers too. bmi dropped TLV due to it obviously not being a route that performed as well as the others in the network. That in itself could say something.