Is there a low-cost airline between South-Asia (or the Middle East) and Europe? I don't mind changing flights and staying overnight. I want to know if there are some. I know about Scoot, Norwegian to South-Asia; Pegasus to the Middle East.
I think you need to narrow this down a bit. In general "low cost" airlines are NOT always cheaper than "full service" airlines. You need to look at specific dates and destinations to optimize the price. For example, Frankfurt <-> Bangkok in February on Etihad or Turkish is around US $600 round trip. Given the distance, I doubt you can get it a lot cheaper than that.