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Cheap flights from Panama City to Madrid, Spain from £349

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 16/4. Fares are subject to change and may not be available on all flights or dates of travel.
PTY — MAD
9 Apr — 16 Apr1
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 May, booked 51 days in advance, depart on a Tuesday or Thursday 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 10 March 2026.

Tue 26/503:25
PTY
-
MAD
1 stop13h 55m
Avianca
Tue 2/602:20
MAD
-
PTY
1 stop18h 55m
Avianca
Deal found 7/3£510
Tue 22/918:50
PTY
-
MAD
1 stop21h 35m
Multiple Airlines
Mon 5/1020:15
MAD
-
PTY
1 stop30h 30m
Multiple Airlines
Deal found 5/3£525
Wed 3/618:50
PTY
-
MAD
1 stop31h 40m
KLM
Tue 16/607:05
MAD
-
PTY
1 stop16h 45m
KLM
Deal found 10/3£528
Wed 27/518:50
PTY
-
MAD
1 stop35h 50m
Multiple Airlines
Wed 17/616:40
MAD
-
PTY
1 stop34h 05m
Multiple Airlines
Deal found 9/3£538
Wed 27/518:50
PTY
-
MAD
1 stop35h 50m
KLM
Sun 31/520:30
MAD
-
PTY
1 stop27h 20m
KLM
Deal found 9/3£541
Sat 7/318:20
PTY
-
MAD
Nonstop10h 05m
Iberia
Wed 11/311:40
MAD
-
PTY
Nonstop11h 05m
Iberia
Deal found 7/3£544
Tue 28/420:25
PTY
-
MAD
Nonstop9h 50m
Air Europa
Sat 16/515:05
MAD
-
PTY
Nonstop10h 35m
Air Europa
Deal found 7/3£545
Sun 19/420:25
PTY
-
MAD
Nonstop9h 50m
Air Europa
Mon 27/415:05
MAD
-
PTY
Nonstop10h 35m
Air Europa
Deal found 6/3£547

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 10 March 2026.

Round-trip from

£509

One-way from

£349

Popular in

December

Cheapest in

February

Average price

£574

Good round-trip deal

£540 or less

Good one-way deal

£565 or less
Avianca
  • Avianca
  • 26/5-3/6
  • 2 total stops
  • 27h 00m total
  • Panama City to Madrid
Search Deals
Air Europa
  • Air Europa
  • 16/4
  • Nonstop
  • 9h 50m total
  • Panama City to Madrid
Search Deals
Highest demand for flights based on searches. 4% potential increase in price (£19 potential increase over avg. return price).
Search Deals
Cheapest flight prices on average. 1% potential price decrease (£8 potential savings vs. average return price).
Search Deals
Average for round-trip flights in March 2026
Search Deals
Price to beat on a round-trip flight from Panama City Tocumen Intl to Madrid Barajas.
Search Deals
Price to beat on a one-way flight from Panama City Tocumen Intl to Madrid Barajas.
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 10 March 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

Wed 27/5

22:20-22:35

1 stop41h 15m

Madrid Barajas

Wed 3/6

12:00-18:30

2 stops37h 30m

£559
Fastest return journey

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Wed 27/5

21:30-14:20

Nonstop9h 50m

Madrid Barajas

Wed 3/6

15:55-20:00

Nonstop11h 05m

£570

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Wed 29/4

22:20-22:35

1 stop41h 15m

Madrid Barajas

Sun 17/5

07:40-18:30

2 stops41h 50m

£628

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Fri 17/4

15:30-09:00

2 stops34h 30m

Madrid Barajas

Fri 8/5

10:50-14:14

2 stops34h 24m

£635

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Thu 7/5

09:45-09:00

1 stop16h 15m

Madrid Barajas

Mon 18/5

11:15-16:12

2 stops35h 57m

£635

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Thu 16/4

09:45-09:00

1 stop16h 15m

Madrid Barajas

Thu 30/4

11:15-16:12

2 stops35h 57m

£641

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Tue 5/5

15:30-08:05

2 stops33h 35m

Madrid Barajas

Tue 19/5

10:50-19:31

1 stop15h 41m

£641

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Wed 27/5

09:45-11:50

2 stops19h 05m

Madrid Barajas

Wed 3/6

11:15-14:14

2 stops33h 59m

£653
Cheapest one-way

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Thu 16/4

20:25-13:15

Nonstop9h 50m

£349

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Wed 1/7

20:25-13:15

Nonstop9h 50m

£441

Flights are sorted by cheapest return flights first.

Deals found on 7/3

Showing 1-10 of 18 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?

Use this chart to determine the optimal time to book a return flight from Panama City to Madrid. Price data was last updated on 6 March 2026.

To ensure you get the cheapest price possible for a flight from Panama City to Madrid, you should look to book at least 51 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, May is the cheapest month in which you can book a flight from Panama City to Madrid (average of £460). Flying from Panama City to Madrid in July is currently the most expensive (average of £537). 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 10 March 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 10 March 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
6.9
Okay
593 reviews
Check prices

Overall

6.9

Entertainment

6.5

Comfort

6.8

Boarding

7.1

Food

6.2

Crew

7.4

Reviews

1 / 14
8.0
Excellent

Maria Elena,Jan 2026

FRA - MAD

There was no order to board the plane and the flight was delayed. They should do it by zone to make it more organized
Air Europa
6.9
Okay
593 reviews
Air Europa
6.9
Okay
593 reviews
Check prices

Overall

6.9

Entertainment

6.5

Comfort

6.8

Boarding

7.1

Food

6.2

Crew

7.4

Reviews

1 / 14
8.0
Excellent

Maria Elena,Jan 2026

FRA - MAD

There was no order to board the plane and the flight was delayed. They should do it by zone to make it more organized

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 4 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 12 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 9h 50m. Turkish Airlines provides one of the quickest options available for as low as £570. Airlines will cover a distance of 5065 mi. This flight may include one or multiple stops.

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

    According to our current data, Air Europa (£527), offers the cheapest pricing from Panama City to Madrid. Air Europa is 13% 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 Qatar Airways (84%), Iberia (84%) and EL AL (84%).

  • What are the cheapest flights from Panama City to Madrid?

    Looking at all options, your cheapest flight can be booked for £524. While the most popular route (Panama City Tocumen Intl - Madrid Barajas) can be booked for £570 on average, our data indicates £579 when flying from Panama City to Madrid.

  • 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, May is the cheapest month in which you can book a flight from Panama City to Madrid (average of £460). Flying from Panama City to Madrid in July is currently the most expensive (average of £537). 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
Getafe
Guadalajara

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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 10 March 2026.
AirlineCheapestAverageFlexibilityOn-time
Air EuropaCheapest£527Average£648FlexibilityNo 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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