East and Southeast Asia have their fair share of low-cost airlines (including AirAsia, Lucky Air, Scoot, VietJet, Peach, and many others). In 2016, the world saw the formation of two significant Asian low-cost alliances, U-FLY and Value Alliance. At the time, some thought these could be the shape of things to come, ushering in a new era of low-cost alliances providing their answer to the established alliances like 
oneworld, 
Star Alliance, and 
SkyTeam. But within a few short years, these alliances seem to have fizzled and gone out with a whimper. The main clue they are no longer functioning is that their websites are no longer active.