This week, ANAC, the Agencia Nacional de Aviação Civil (the National Agency for Civil Aviation in Brazil) announced that airfares are going to drop significantly starting in March. This means international flights originating in Brazil will have price decreases from 30 – 50%, and officials say that by June there will be discounts of up to 80%. The majority of discounted flights are to South American countries, as well as a few flights to Europe.

According to ANAC, four million people per year travel from Brazil to the rest of South America, 50% going to Argentina and 20% to Chile. For this reason, flights to Buenos Aires are going to drop significantly: currently, the average price for round-trip fares from Rio de Janeiro to Buenos Aires is US$265, and in March it will decrease to US$189. By June, officials hope to lower prices to a whopping US$75.

Here are a selection of destinations, the current average prices, and the price reductions for round-trip airfare:
Brazil – Chile: currently US$408; reduction to US$291 in March; reduction to US$116 in June
Brazil – Bolivia: currently US$341; reduction to US$244 in March; reduction to US$97 in June
Brazil – Peru: currently US$522; reduction to US$373 in March; reduction to US$149 in June
Brazil – Colombia: currently US$606; reduction to US$433 in March; reduction to US$173 in June
Brazil – Ecuador: currently US$640; reduction to US$457 in March; reduction to US$183 in June

If you’re planning to travel to Latin America this year, it looks like the best time to buy your airfare is in June, and it looks like Brazil is the perfect jumping-off point.