Italian carrier Meridiana is offering some great option from Milan either to Recife or Fortaleza in Brazil. Very limited options are availble though. Round trip flights on said routes are now starting at just €362! All charges and checked luggage are included. 
Meridiana offer is valid for flights in travel period from October 2016 till April 2017. This includes some options to fly to Brazil over Christmas holidays or NYE. You may check travel dates directly with the carrier. In general look for flights departing / arriving on Thursday.
Booking samples
To book some affordable accommodation in Brazil you may use Booking.com or consider following promo codes that is offering Ebookers, Hotelopia or Venere.
Booking sample of cheap direct flights from Italy to Brazil from €362 here. In this case you would depart from Milan to Recife on 29th of December 2016. Your return flight from South America back to Europe would be on 5th of January 2017. Great opportunity to celebrate NYE out of EU in some exotic holiday destination..
