Budget airline easyJet is following in the footsteps of Ryanair and slashing fares on dozens of its routes.
The carrier has knocked 25 per cent off flights to Spain and other destinations, including those departing during Easter and half-term.
Those looking to avail of the discounted flights must make their booking before January 13th, the airline said.
The decision to cut prices comes just a day after the Telegraph reported that up to six million holidays will be booked this month.
When it comes to arguing, bickering Brits can't even resist the urge when they are on holiday.
According to research by Holiday Extras, six in ten couples row while travelling abroad.
Furthermore, 20 per cent of adult holidaymakers admit to arguing with their kids on holiday.
James Rye, a councillor and member of the Holiday Extras expert panel, said families should resist the urge to fight while abroad and should wait until they return home if there is an issue they need to settle.
Budget carrier Ryanair is helping holidaymakers beat the credit crunch doom and gloom by launching a sale on flights to Spain and other destinations.
The airline, which offers flights to Spanish holiday hotspots such as Murcia, Alicante and Malaga, has slashed the price of a number of its flights to just £2.50.
Commenting on the sale, Ryanair's Stephen McNamara said: "The first week back to work is always the worst and it can be the best time to book a short city break, a ski trip or a summer sun holiday.
Spain is likely to remain Britain's favourite holiday destination for the coming year, according to one travel expert.
Speaking to the BBC, Lee Hayhurst of the Travel Trade Gazette said that despite the strong euro, holidays in Spain will still end up "dwarfing Turkey and Egypt combined".
"They are reducing prices to reflect the fact it's costing us more. Spain is so massive as a tourist destination, and somewhere people trust and know," he commented.
An increasing number of British travellers are opting for all-inclusive and half-board holidays in order to save money, it has been revealed.
The Telegraph reported earlier this month that the number of enquiries about all-inclusive holidays rose by 17 per cent for the first five days of January, compared to the same period last year.
Bob Atkinson, a financial expert from the site, said that people are choosing holidays that include meals in order to budget in advance.
"You know that by booking that all inclusive holiday, you've set your price.
Tired of the sub zero temperatures and economic doom and gloom, millions of British consumers are preparing to book holidays to Spain and other sun-soaked destinations.
According to the Telegraph, up to six million holidays will be booked this month, as Brits make the most of the bargain deals on offer from hotels and tour operators.
A number of airlines are already slashing fares on flights to Spain and other holiday hotspots and tour operators are also cutting prices.
"Our research has shown that the last thing people give up is their holiday and there are some extraordinary deals out there at the moment.
Brits taking holidays in Spain can make up for the unfavourable euro exchange rate by following a series of top money saving tips compiled by the Telegraph.
According to travel writer Fred Mawer, one way to cut costs is by opting for an all-inclusive of half-board break, which can shield holidaymakers from the worst of currency fluctuations.
Booking as early as possible is also advisable, with many tour operators planning to cut their capacity this summer, which could lead to a reduction in the availability of late deals.
Other top tips for holidays in Spain include eating a large lunch and a small dinner, with food prices often increasing in the evening.
Holidaymakers looking to escape the dreary British weather need look no further than the south of Spain, where pleasant temperatures can be enjoyed all year round.
Situated on the sunny Costa Calida in the Murcia region of Spain, La Manga Club basks in sunshine for over 300 days a year and even winter temperatures are considerably mild compared to the UK.
Average temperatures in the summer months range from 30 degrees C to 33 degrees C and temperatures during the winter season rarely dip below 10 degrees C, meaning that those taking holidays in Spain can enjoy the outdoors at any time of year.
Holidaymakers visiting in the summer months will find that most days are extremely sunny and heavy rainfall during this time is quite rare.
One of the best ways to explore the area surrounding La Manga Club is to hire a car using the resort's website.
Car hire in Murcia can often work out cheaper than using public transport and taxis, and ultimately it offers holidaymakers much more freedom.
Hiring a car enables holidaymakers to take in all the wonders of the stunning region, from the historical sites of Cartagena to the white sandy beaches of the coastline. It's also a great way to explore the small mountain villages and soak up some Spanish culture.
Holidaymakers arriving at Murcia Airport can get their break off to a stress-free start by arranging their transfer to La Manga Club in advance.
If hiring a car or taking the bus does not seem appealing, then holidaymakers can arrange their airport transfers from Murcia by using the La Manga Club website.
Driving in an unfamiliar country can be a daunting option and travellers can get their holiday off to a relaxing start by letting someone else do the hard work.
Booking an airport transfer from Murcia is incredibly straightforward and holidaymakers can arrange everything online.