updated 3/16/2009 2:18:26 PM ET 2009-03-16T18:18:26

The deal
Have you ever dreamt of spending a summer in Madrid? Well wake up from your siesta and take a look at some of the great late spring and early summer fare deals we found through major airlines.

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Some of these rock-bottom prices start at under $500 round-trip, with taxes and fees included. Competition between airlines is fierce right now, so as the ongoing airfare wars continue, be sure to lock in an inexpensive escape to Spain’s capital city.

Another airline adding its name to the popular route from New York City to Madrid is Spain’s own Air Europa. Book now and take advantage of low peak-season rates starting from $610 round-trip, for travel beginning June 1. The airline also announced plans to launch a sale on this new route on low-season travel from Oct. 29 through Dec. 13, starting from just $159 each way, so check back on its website for more details.

Other notable airlines to scout out when planning your summer jaunt to Madrid include Iberia, Delta and Aer Lingus, which all offer hard-to-resist round-trip fares.

The dollars
Here are some notable sample fares currently offered for travel on select dates from May 24 to July 25 from New York’s JFK to Madrid, round-trip with taxes and fees included:

  • Air Europa: $782 (non-stop)
  • Aer Lingus: $598 (stopover in Dublin)
  • Delta: $472 (non-stop)
  • Air France: $867 (non-stop)

The catch
Fares dramatically increase in the summer months of July and August as compared to June. ShermansTravel is a guide to top travel deals and destinations. Sign up for Sherman's Top 25 e-newsletter which features the best editor-screened deals from hundreds of travel providers and is delivered to over 2.5 million subscribers, free, each week. ShermansTravel also publishes trip ideas and travel features to inspire, guide, and go.

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