British European (before it became FlyBe) did exactly that. I used their iOM to LCY often. I think the aircraft also went on to JER. But that was probably around 10 years ago, and while it would suit me perfectly (it was an 8am or so departure ex IOM) I suspect BHD>LCY with a stop would have to be priced too low to generate a worthwhile yield. But I'd love to be wrong...