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Cheap flights from Panama City to Madrid, Spain from £482

This is the cheapest one-way flight price found by a Cheapflights user in the last 72 hours by searching for a flight departing on 12/11. Fares are subject to change and may not be available on all flights or dates of travel.
PTY — MAD
21 Aug — 28 Aug1
1 adult
1 adult, Economy, 0 bags
Cheapflights Tip: The best prices from Panama City Tocumen Intl to Madrid Barajas are usually found in February or October, booked 85 days in advance, depart on a Wednesday or Saturday and return on a Wednesday

Cheap flight deals from Panama City to Madrid

Enter your travel dates to find the best prices.

Cheapest flights from Panama City to Madrid
Explore the most affordable flight options available from Panama City to Madrid. Find the lowest fares from popular airlines and budget airlines, with prices last updated on 22 July 2026.

Fri 11/909:45
PTY
-
MAD
1 stop16h 15m
United Airlines
Mon 28/910:50
MAD
-
PTY
1 stop15h 41m
United Airlines
Deal found 19/7£571
Mon 3/821:55
PTY
-
MAD
2 stops18h 30m
Multiple Airlines
Mon 24/812:20
MAD
-
PTY
1 stop14h 25m
Multiple Airlines
Deal found 21/7£572
Thu 5/1108:55
PTY
-
MAD
2 stops42h 20m
United Airlines
Wed 18/1111:00
MAD
-
PTY
2 stops33h 45m
United Airlines
Deal found 18/7£573
Fri 11/909:45
PTY
-
MAD
1 stop16h 15m
United Airlines
Fri 25/910:50
MAD
-
PTY
1 stop15h 41m
United Airlines
Deal found 21/7£573
Wed 7/1010:00
PTY
-
MAD
2 stops40h 00m
United Airlines
Wed 21/1011:15
MAD
-
PTY
2 stops38h 22m
United Airlines
Deal found 21/7£574
Thu 24/909:45
PTY
-
MAD
2 stops38h 05m
United Airlines
Sat 10/1011:15
MAD
-
PTY
2 stops38h 22m
United Airlines
Deal found 20/7£575
Mon 14/909:45
PTY
-
MAD
2 stops38h 05m
United Airlines
Mon 28/911:15
MAD
-
PTY
2 stops33h 59m
United Airlines
Deal found 20/7£576
Thu 29/1009:30
PTY
-
MAD
1 stop17h 45m
United Airlines
Tue 10/1113:25
MAD
-
PTY
2 stops60h 37m
United Airlines
Deal found 21/7£576
Wed 16/909:45
PTY
-
MAD
1 stop16h 15m
United Airlines
Wed 23/910:50
MAD
-
PTY
1 stop15h 41m
United Airlines
Deal found 21/7£577
Thu 20/822:55
PTY
-
MAD
2 stops26h 10m
United Airlines
Fri 18/910:50
MAD
-
PTY
1 stop15h 41m
United Airlines
Deal found 22/7£578
Wed 16/909:45
PTY
-
MAD
2 stops38h 05m
United Airlines
Tue 29/910:50
MAD
-
PTY
1 stop15h 41m
United Airlines
Deal found 21/7£579

Find flight deals from Panama City to Madrid

Discover tips and strategies to find the most affordable flight options for your journey from Panama City (PTY) to Madrid (MAD). Learn about various techniques such as flexible date searches, comparing prices across and setting up price alerts. Use these methods to find the cheapest flights available for your travel needs. Data last updated 22 July 2026.

Round-trip from

£571

One-way from

£482

Popular in

December

Cheapest in

February

Average price

£727
United Airlines
  • United Airlines
  • 24/9-10/10
  • 4 total stops
  • 76h 27m total
  • Panama City to Madrid
Search Deals
KLM
  • KLM
  • 12/11
  • 1 total stop
  • 18h 50m total
  • Panama City to Madrid
Search Deals
Highest demand for flights based on searches. 2% potential increase in price (£12 potential increase over avg. return price).
Search Deals
Cheapest flight prices on average. 1% potential price decrease (£7 potential savings vs. average return price).
Search Deals
Average for round-trip flights in July 2026
Search Deals

Cheapflights Fare Finder

 
Customise your flight search to find flights from Panama City to Madrid that fit within your specific budget. Explore options based on user searches and filter the results based on your desired price range. Find flights that match your budget for a cost-effective journey. Over the last 7 days, Cheapflights users made 858,174 searches. Data last updated 22 July 2026.
Use the filters below to find and compare flights from Panama City to Madrid that are best for you.

Fly from

Fly to

Route

Depart

Return

Price

Cheapest return flight

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Thu 8/10

10:00-08:05

2 stops39h 05m

Madrid Barajas

Sat 17/10

10:50-18:37

2 stops38h 47m

£574

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Fri 21/8

15:30-09:00

2 stops34h 30m

Madrid Barajas

Sun 13/9

11:15-19:31

2 stops39h 16m

£574

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Sun 25/10

15:41-07:45

2 stops34h 04m

Madrid Barajas

Sat 14/11

11:15-19:38

2 stops38h 23m

£574

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Wed 23/9

09:45-09:00

1 stop16h 15m

Madrid Barajas

Sat 10/10

11:15-19:31

2 stops39h 16m

£574
Fastest return journey

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Mon 21/9

09:45-09:00

1 stop16h 15m

Madrid Barajas

Mon 28/9

10:50-19:31

1 stop15h 41m

£576

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Thu 17/9

09:45-09:00

1 stop16h 15m

Madrid Barajas

Sun 4/10

10:50-19:31

1 stop15h 41m

£578

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Tue 3/11

10:00-09:15

1 stop17h 15m

Madrid Barajas

Sun 22/11

13:25-20:02

2 stops36h 37m

£579

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Tue 6/10

09:45-09:00

1 stop16h 15m

Madrid Barajas

Wed 14/10

12:45-19:31

2 stops37h 46m

£579

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Mon 24/8

09:45-09:00

1 stop16h 15m

Madrid Barajas

Mon 7/9

11:15-04:04

2 stops23h 49m

£581

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Wed 30/12

23:55-07:45

2 stops25h 50m

Madrid Barajas

Thu 4/2

13:25-20:02

2 stops36h 37m

£587

Flights are sorted by cheapest return flights first.

Deals found on 21/7

Showing 1-10 of 19 resultsSorted by cheapest first
1
2

Best time to book a flight from Panama City to Madrid

Have a flexible travel schedule? Discover the best time to fly to Madrid from Panama City with our price prediction graph.
Estimated return price
Rates are based on past data. Find the cheapest month and day to book your flight based on your travel requirements, then search for cheap deals.

Cheapflights Insights

Everything you need to know about your flight from Panama City to Madrid

How far ahead should I book a flight from Panama City to Madrid?

To ensure you get the cheapest price possible for a flight from Panama City to Madrid, you should look to book at least 90 days in advance of your intended travel date. The price of your flight may increase if you delay and leave booking until a week or so before departure.

What is the cheapest month to book a flight from Panama City to Madrid?

Currently, February is the cheapest month in which you can book a flight from Panama City to Madrid (average of £555). Flying from Panama City to Madrid in December is currently the most expensive (average of £727). There are several factors that can impact the price of a flight, so comparing airlines, departure airports and flight times can provide users with more options.

What is the cheapest time of day to fly from PTY to MAD?

Find hourly flight availability from Panama City to Madrid. Discover flight options and departure times throughout the day, allowing you to choose a departure time that suits your schedule. Data last updated 22 July 2026.

When flying from Panama City to Madrid, the time of day you decide to fly out makes little to no difference towards the overall price you’ll pay on tickets.

How much does it cost for a return flight from Panama City to Madrid?

Reviews of airlines servicing Madrid

Get insights into the airlines that provide service to Madrid. Read reviews, discover amenities, and learn about the overall travel experience offered by airlines. Use this information to make informed decisions when choosing an airline for your flight to Madrid. Reviews last updated 22 July 2026.
See what other customers who have flown with Air Europa from Panama City to Madrid have to say. You can also see how each airline compares in terms of entertainment options, comfort, food, crew/service, and boarding process.
Air Europa
7.0
Good
629 reviews
Check prices

Entertainment

6.5

Crew

7.5

Overall

7.0

Comfort

6.9

Boarding

7.1

Food

6.3

Reviews

1 / 16
10.0
Excellent

Anonymous,Jul 2026

FCO - MAD

Crew was very nice and attentive. Comfortable plane Better movies selection
Air Europa
7.0
Good
629 reviews
Air Europa
7.0
Good
629 reviews
Check prices

Entertainment

6.5

Crew

7.5

Overall

7.0

Comfort

6.9

Boarding

7.1

Food

6.3

Reviews

1 / 16
10.0
Excellent

Anonymous,Jul 2026

FCO - MAD

Crew was very nice and attentive. Comfortable plane Better movies selection

Related info for your journey

Find useful and relevant information for your journey from Panama City to Madrid. Access travel guides, tips, and recommendations to enhance your travel experience. Get information about local attractions, weather, transportation options, and more.

  • What airports do I use to fly from Panama City to Madrid?

    If you book a flight from Panama City to Madrid, you will be flying from Tocumen Intl to Barajas. Flights to Madrid Barajas (MAD) from Panama City Tocumen Intl (PTY) take 9h 50m for a nonstop flight. There are 7 flights from Tocumen Intl to Madrid per day from 1 airline.

  • How popular is this Panama City to Madrid flight route?

    Flights from Panama City Tocumen Intl to Madrid Barajas have been viewed 16 times in the past calendar month.

  • How long is the flight from Panama City to Madrid?

    A quick flight from Panama City to Madrid can take about 27h 20m. United Airlines provides one of the quickest options available for as low as £574. Airlines will cover a distance of 5065 mi.

  • What is the cheapest airline to fly from Panama City to Madrid round-trip?

    According to our current data, Air Europa (£526), offers the cheapest pricing from Panama City to Madrid. Air Europa is 16% cheaper than the average price of flights available within the next 90 days to this destination.

  • What are the most reliable airlines from Panama City to Madrid?

    The top 3 most reliable airlines when flying from Panama City to Madrid are Air Europa (80%), Etihad Airways (80%) and China Eastern (80%).

  • Can I find deals for flights from Panama City to Madrid that include hotel bookings?

    Yes. In addition to deals on Panama City to Madrid flights, Cheapflights offers holiday packages that include both flights and hotel.

  • How can I find direct flights from Panama City to Madrid?

    After entering your origin and destination, apply the non-stop filter on the search result page to find direct flights from Panama City to Madrid.

  • Can I find deals for business class flights from Panama City to Madrid?

    Yes. Cheapflights offers flight deals from Panama City to Madrid by cabin class. In addition to browsing deals, you can also filter by cabin class on the search results page after making a search.

  • What is the cheapest month to book a flight from Panama City to Madrid?

    Currently, February is the cheapest month in which you can book a flight from Panama City to Madrid (average of £555). Flying from Panama City to Madrid in December is currently the most expensive (average of £727). There are several factors that can impact the price of a flight, so comparing airlines, departure airports and flight times can provide users with more options.

See more FAQs

Travelling to a place near Madrid?

Book flights to Madrid if you plan to visit one of these locations
Fuenlabrada
San Lorenzo de El Escorial
Getafe
Guadalajara

Browse thousands of different options on Cheapflights for your next trip

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Top airline flying from Panama City to Madrid

Discover the top airline that operate flights from Panama City to Madrid. Compare their services, reliability, and customer satisfaction ratings to choose the airline that best suits your travel preferences and needs. Over the last 7 days, Cheapflights users made 858,174 searches. Data last updated 22 July 2026.
AirlineCheapestAverageFlexibilityOn-time
Air EuropaCheapest£526Average£636FlexibilityNo cancel feeOn-time83%
Search Air Europa flights

Fly with Cheapflights

Find the best flight deals on Cheapflights, where travellers can enjoy low prices and a wide availability of flights to their desired destinations.

How does Cheapflights help users find flights from Panama City to Madrid?

Cheapflights goes through 900+ travel sites to look for the best flight deals for flights from Panama City to Madrid. Too many options? Cheapflights also provides filters for things like airlines, price ranges, and number of stops to help you make a decision easily.

Why should you use Cheapflights to find cheap flight tickets from Panama City to Madrid?

Cheapflights taps into our reliable network of hundreds of airlines and travel agencies to find the best deals for flights from Panama City to Madrid for you. Better yet — we are completely free to use.

Can Cheapflights find flights from Panama City to Madrid with no change fees?

Certainly. Search results for flights to Madrid from Panama City shown to you on Cheapflights can be narrowed down with different useful search filters, which includes flexible booking options.

Can Cheapflights notify me if prices for flights from Panama City to Madrid become cheaper?

Of course! You can now track prices for flights from Panama City to Madrid and get an alert from Cheapflights when they change. Have a valid email address ready and click the bell icon next to the flight deals above to set up your price alerts.

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