This is a question that comes up on EVERY course. It is also covered in our book, which is currently going through its second edit right now. (Flying Without Fear, 101 fear of flying questions answered by the way)
We will often say that when you fly, you consider the airlines that you go with. A lot of people are put off by the 'lo-cost' carriers thinking that the safety is compromised.
First things first. They are not lo-cost. It looks lo-cost but by the time you add in all the bits and bobs such as luggage charges, food and drinks etc... It all adds up. You can get deals of course sometimes but the airlines do not survive on £7 flights - there are always just a limited number of them...
Secondly, anything that flies in the airspace of the developed world, has to meet the same international standards. Country standards vary of course. But here's the thing... If it flies into European airspace, it has to meet those standards.
The site for the banned airlines in the EU is here
Hope that you find this useful...
Paul & Richard