Pegasus could benefit from a transfer to Luton. Aside from a bigger catchment area and better surface access, their current flight schedule would not conflict with Luton's busy periods, where capacity is limited.
No doubt LTN would offer an introductory deal to a new airline too.
It seems that the EZY flight to SAW is not bookable after March 2014, so there could be a ready-made market for them too, if EZY are in fact dropping the route.