MadMat - The PE for IAG and Wizz is low is due to the fact the Balnce Sheet of both companies have a Hugh Debt : EasyJet avliated this problem by doing a rights issue and the B/S of Easy Jet is way too stronger with hardly any Debt !
This one is all about short term stagnation in growth, but medium term huge growth. Today, they have 210 planes with around 163 flying. In 2 years they will have 299 planes with them all flying. Nearly 100% growth