Agree with NSF and Wiz
Successful LCCs do no skimp on safety or standards.
The LCC I work for has the best possible standards of training and maintenance. Never (really, not once!!) have I been asked, or even gently shoved, into doing or accepting anything that would represent anything but the best.
The concern I do have is that, inherrent in the LCC model, is sometimes trying to get too much out of the crews.
Limits should be limits, not targets.
Low profit or serial loss makers are however a big worry.