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you may find it cheaper to put it together yourself, particularly at that time of year which is the slow season (as much as there is one) in the Canaries. In Nov 2008 there were returns with Monarch from Luton for £100 each all inclusive and you could probably do better. Do watch for the extras such as luggage and meals (Take sandwiches!)
find budget flights from your nearest airport and look online for apartments - split between 4 they can be quite a good deal and allow you to save a fortune because you can make breakfast, cups of tea and keep beers cold!
the bus from the south airport to Las Americas is only a couple of euros, the only thing to watch out for is location because this is a big place and you don't want a long walk with luggage, so make sure you know where you are staying in relation to the bus stops. There are stops along the main highway, at the Las Americas bus station, along the road to Los Cristianos and at the Los Cristianos bus station.
hope this helps!