These are the 10 safest low-cost airlines in the world

Flickr/Eddie Maloney

The low-cost airline business model has only been around for a couple of decades, but it has developed a major presence in the airline industry.

According to PWC, low-cost airlines account for more than 25% of the world's aviation business.

From a pool of 407 carriers around the world, AirlineRatings.com selected the 10 safest low-cost and leisure charter airlines in the world.

To compile its list, the website evaluated each airline based on its standing with international regulators, its fatality record over the past 10 years, its results from an International Air Transportation Association(IATA) safety audit, and whether the airline's country of origin conforms with the International Civil Aviation Organization's 8-point safety parameters.

All of the airlines on this list passed those tests with flying colors. Want a cheap ticket and a safe flight? Have a look at these airlines.