Copenhagen
Boeing737-8
In my opinion the simple answer is yes. SAS have increased BHX to double daily Airbus but pax have not increased from when it was one CRJ9 and one Airbus. Whatever you think of SAS they would not have committed mainline aircraft to the route if they thought there wan't a chance of filling them both.
bhx bod is correct in that the July adjustment happens each year but the main difference to 2014 is that they kept the one flight this year was the CRJ9 compared to 2014 when it was all Airbus.
In that sense SAS got it right as 3941 pax over 54 flights is an average of 73, which is a load factor of 81% compared to 65% in June, 62% in May and 61% in April. This route before the Luton surge was around 70-75%.
ATNotts
I agree a bit of a worry and winter is still showing double Airbus until Christmas when action like last year has been taken and it becomes all CRJ9 until summer.
In general
Also the other factor Luton - CPH is clearly point to point but BHX-CPH is clearly not aimed at this market any longer.
When the service went double daily Airbus you could pick up a return for under £100 well in advance but these seem to have disappeared and a couple of the connecting flights of longer distance are coming in cheaper than CPH as a final destination.
Helsinki came in at £35 cheaper (TLL & WAW as well) and closer to CPH, Billund is also less than CPH as a final destination. Stockholm which apparently receives a lot a transits is actually fairly expensive and the same with Oslo.
If Norwegian ever entered the fray direct to HEL, ARN or OSL it could really stir things up although I would imagine they would be low frequency.
Pete