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Cheap flights from Panama City to Madrid, Spain from £390

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 4/12. Fares are subject to change and may not be available on all flights or dates of travel.
PTY — MAD
24 Dec — 31 Dec1
1 adult
1 adult, Economy, 0 bags

Cheapflights Tip: The best prices from Panama City Tocumen Intl to Madrid Barajas are usually found in March or May, booked 58 days in advance, depart on a Tuesday or Wednesday and return on a Thursday

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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 24 November 2025.

Tue 23/1221:30PTY - MAD
Nonstop9h 35mAir Europa
Thu 12/315:10MAD - PTY
Nonstop10h 35mAir Europa
Deal found 24/11£643
Wed 17/1221:30PTY - MAD
Nonstop9h 35mAir Europa
Tue 10/315:10MAD - PTY
Nonstop10h 35mAir Europa
Deal found 24/11£668
Mon 22/1221:30PTY - MAD
Nonstop9h 35mAir Europa
Wed 11/315:10MAD - PTY
Nonstop10h 35mAir Europa
Deal found 24/11£692
Tue 30/1221:30PTY - MAD
Nonstop9h 35mMultiple Airlines
Sat 17/101:45MAD - PTY
1 stop14h 56mMultiple Airlines
Deal found 24/11£707
Mon 22/1221:30PTY - MAD
Nonstop9h 35mAir Europa
Sun 8/315:10MAD - PTY
Nonstop10h 35mAir Europa
Deal found 23/11£717
Mon 22/1221:45PTY - MAD
1 stop33h 35mTurkish Airlines
Mon 9/317:55MAD - PTY
2 stops29h 10mTurkish Airlines
Deal found 24/11£720
Sun 21/1221:30PTY - MAD
Nonstop9h 35mAir Europa
Fri 13/315:10MAD - PTY
Nonstop10h 35mAir Europa
Deal found 23/11£720
Mon 29/1218:20PTY - MAD
Nonstop10h 05mIberia
Sat 17/111:40MAD - PTY
Nonstop11h 05mIberia
Deal found 24/11£730
Wed 10/1218:45PTY - MAD
1 stop22h 40mMultiple Airlines
Wed 14/106:00MAD - PTY
1 stop20h 10mMultiple Airlines
Deal found 23/11£736
Wed 31/1218:20PTY - MAD
Nonstop10h 05mIberia
Wed 7/111:40MAD - PTY
Nonstop11h 05mIberia
Deal found 21/11£740
Tue 30/1221:30PTY - MAD
Nonstop9h 35mAir Europa
Wed 14/115:10MAD - PTY
Nonstop10h 35mAir Europa
Deal found 21/11£741
Sun 21/1221:30PTY - MAD
Nonstop9h 35mAir Europa
Sat 14/315:10MAD - PTY
Nonstop10h 35mAir Europa
Deal found 24/11£745

Cheap 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 24 November 2025.

Round-trip from

£524

One-way from

£390

Popular in

December

Cheapest in

March

Average price

£571

Good round-trip deal

£631 or less
KLM
  • KLM
  • 9/2-17/2
  • 2 total stops
  • 35h 50m total
  • Panama City to Madrid
Search Deals
KLM
  • KLM
  • 4/12
  • 1 total stop
  • 22h 40m total
  • Panama City to Madrid
Search Deals
Highest demand for flights based on searches. 5% potential increase in price (£25 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 November 2025
Search Deals
Price to beat on a round-trip 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 24 November 2025.
Use the filters below to find and compare flights from Panama City to Madrid that are best for you.

Fly from

Panama City

Fly to

Madrid

Route

Depart

Return

Price

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Mon 2/2

21:45-10:25

1 stop30h 40m

Madrid Barajas

Mon 16/2

14:25-17:05

2 stops32h 40m

£563

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Mon 16/2

21:45-13:20

1 stop33h 35m

Madrid Barajas

Wed 25/2

17:55-17:05

2 stops29h 10m

£563

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Wed 4/3

21:30-13:05

Nonstop9h 35m

Madrid Barajas

Tue 10/3

15:10-19:45

Nonstop10h 35m

£578

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Wed 15/4

20:25-13:15

Nonstop9h 50m

Madrid Barajas

Thu 30/4

15:05-18:40

Nonstop10h 35m

£578

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Wed 4/3

21:30-13:05

Nonstop9h 35m

Madrid Barajas

Thu 12/3

15:10-19:45

Nonstop10h 35m

£578

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Sun 15/2

21:30-13:05

Nonstop9h 35m

Madrid Barajas

Mon 23/2

15:10-19:45

Nonstop10h 35m

£602

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Tue 3/3

21:30-13:05

Nonstop9h 35m

Madrid Barajas

Sat 14/3

15:10-19:45

Nonstop10h 35m

£627

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Tue 23/12

21:30-13:05

Nonstop9h 35m

Madrid Barajas

Fri 13/3

15:10-19:45

Nonstop10h 35m

£643

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Sat 2/5

22:55-06:40

2 stops24h 45m

Madrid Barajas

Thu 28/5

11:15-14:14

2 stops33h 59m

£646

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Mon 26/1

11:35-09:15

2 stops39h 40m

Madrid Barajas

Tue 3/2

13:35-14:45

2 stops31h 10m

£646

Flights are sorted by cheapest return flights first.

Deals found on 21/11

Showing 1-10 of 21 results
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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 21 November 2025.

To ensure you get the cheapest price possible for a flight from Panama City to Madrid, you should look to book at least 58 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, March is the cheapest month in which you can book a flight from Panama City to Madrid (average of £454). Flying from Panama City to Madrid in July is currently the most expensive (average of £540). 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 24 November 2025.

It’s optimal to fly from Panama City to Madrid in the morning. By choosing this option you can save up to 28% on the cost of your flight, compared to a flight in the afternoon.

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 24 November 2025.
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
569 reviews
Check prices

Boarding

7.1

Overall

7.0

Comfort

7.0

Crew

7.5

Entertainment

6.6

Food

6.3

Reviews

1 / 12
6.0
Good

Anonymous,Sept 2025

MAD - JFK

Even though I paid for a ticket that included check in baggage and seat assignment, they did not honor the seat assignment and said it was not included. I paid for 6 tickets, 6 bags so I wanted to ensure we sat together for the long flight. I was given the worst seats possible, very last row, next to the bathroom, and a windowless "window seat". Not what I expected when I made the reservation.
Air Europa
7.0
Good
569 reviews
Air Europa
7.0
Good
569 reviews
Check prices

Boarding

7.1

Overall

7.0

Comfort

7.0

Crew

7.5

Entertainment

6.6

Food

6.3

Reviews

1 / 12
6.0
Good

Anonymous,Sept 2025

MAD - JFK

Even though I paid for a ticket that included check in baggage and seat assignment, they did not honor the seat assignment and said it was not included. I paid for 6 tickets, 6 bags so I wanted to ensure we sat together for the long flight. I was given the worst seats possible, very last row, next to the bathroom, and a windowless "window seat". Not what I expected when I made the reservation.

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 35m for a nonstop flight. There are 6 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 10 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 35m. Turkish Airlines provides one of the quickest options available for as low as £578. 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 (£491), offers the cheapest pricing from Panama City to Madrid. Air Europa is 17% 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 (78%), Etihad Airways (78%) and China Eastern (78%).

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

    Looking at all options, your cheapest flight can be booked for £631. While the most popular route (Panama City Tocumen Intl - Madrid Barajas) can be booked for £706 on average, our data indicates £631 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, March is the cheapest month in which you can book a flight from Panama City to Madrid (average of £454). Flying from Panama City to Madrid in July is currently the most expensive (average of £540). 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 24 November 2025.
AirlineCheapestAverageFlexibilityOn-time
Air EuropaCheapest£491Average£622FlexibilityNo cancel feeOn-time83%
Search Air Europa flights

Fly with Cheapflights

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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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