Lowkoon,
The reality is, low cost is not safer. They have gouged profits from unsuspecting customers, by simply reducing safety margins, and manufacturers and regulators are equally to blame. All complicit in gouging at the trough, but they are simply eating bigger holes in the swiss cheese. Manufacturers want to sell planes, so they convince airlines that these machines can be flown with 5 expensive days of training, preceded by a 2 day classroom on systems. Do you really think that airbus give Airasia such a massive discount over the prices they offer CX KA BA EK QF etc etc? No. So they arent saving money on airframes. Do they have the same cost for spare parts? Do you think tyres and fan blades are cheaper for low cost carriers? I doubt it. Where else do you think they could save money when it comes to maintenance do you think? Its up to them to prove they do the same maintenance. Do you think they get a massive discount on fuel? No? So they aren't saving money there either.
Regulators sign off on these minimum requirements because they are too understaffed or what ever excuse you want to use this week to cover up the fact that they rubber stamp these 'fast track' courses. So who is ultimately responsible for this? Certainly not the unfortunate souls on board the downed 320. Time to look a bit higher up the tree, where the riper more juicy fruit is hanging. Just because an airline meets minimum regulatory requirements doesn't automatically make it safe.
Ok, so if you want a can of coke, you pay for it. How much does that make? a few dollars per pax maybe. So where are the massive savings coming from? Staff salaries? Yes, training costs? maybe, up to them to prove it.
Your post implies that only LCCs take the ‘cheap’ training option. I would suggest that the Airframe manufacturers do not differentiate.
Whether it be Boeing with the B777/B787 or Airbus with their A333/A350 CTR, the overall training package is being changed (lowered?) and with regulatory approval and this type of training is what all operators now tend to receive.
However, does an initial one off traditional TR of say US40K per crew make that much difference to the operating costs – again I would suggest not.
Minimum regulatory requirements and standards ARE meant to ensure safe operations else there is no point in having them. Whether these minimum regulatory requirements and standards are at the correct level is another question.