Here's what we're finding about airfares to Mexico:

1) It's not just the fares that have inched lower on some routes compared to what would be considered "normal"; much more important, the airlines have eliminated restrictions. Many popular routes such as to Cancun and Mexico City now have low fares with no advance purchase requirement, and are valid for travel through a 330 day period. Plus, there are a lot of seats available at these fares. It's not just the fare that matters: it's the restrictions and availability.

For example Atlanta to Cancun with taxes, nonstop on Delta, flights are wide open through next winter for $293 RT; Chicago to Puerto Vallarta is around $300 RT with taxes, also available through next winter.

2) Fares to some destinations, such as Acapulco, are still quite high. It really depends on how many airlines are competing on the route.

3) If airlines continue to slash flights to Mexico, we'll see fares stabilize and restrictions come back into place; and seat availability will decline.

4) We think that now is a great time to buy peak winter season travel to Mexico since it's very likely that the flu will be a distant memory by next January and February. It's also probably a good time to nab a great hotel rate or package while vendors are desperate for business.

5) Some airlines have been unusually flexible in allowing travelers who have booked travel to Mexico and do not wish to travel at this time. They're providing vouchers for the full amount of the original ticket anywhere they fly. Other airlines are not being as generous. One airline, WestJet, is actually offering full refunds in the form of original payment.

Here's a breakdown of what airlines are doing for travelers.

More info on this situation from Smarter Travel.