It seems this business start booming in the Middle East, few years ado we saw Air Arabia, and now number of airlines are trying to copy. Even Large airlines such as Gulf Airways, is subsidizing a low cost airline.
This is the Middle East and N. African) low cost airlines that I found, please let me know if you know of any plans for more airlines.
Air Arabia – UAE http://www.airarabia.com
Jazeera airways-Kuwait http://www.jazeeraairways.com
Menajet – Lebanon http://www.menajet.com I like their brand
Gulf Traveller – Bahrain http://www.gulftraveller.com/
Redsea – Egypt www.redseaflights.com I think this is a charter only!
Sama Airlines – Saudia www.flysama.com to fly soon
Atlas Blue – Morocco https://www.atlas-blue.com
Jet 4 you - Morocco http://www.jet4you.com
I know there are some more charter airlines in Jordan and Saudi Areabia like AL- khayala airlines but I think those don’t count as they don’t fly internationally yet.