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Cheap flights from Panama City to Madrid, Spain from £421

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 12/5. Fares are subject to change and may not be available on all flights or dates of travel.
PTY — MAD
8 Feb — 15 Feb1
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 58 days in advance, depart on a Tuesday or Saturday and return on a Friday

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 9 January 2026.

Round-trip from

£527

One-way from

£421

Popular in

December

Cheapest in

February

Average price

£613

Good one-way deal

£1,251 or less
Air France
  • Air France
  • 21/5-1/6
  • 2 total stops
  • 55h 05m total
  • Panama City to Madrid
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Avianca
  • Avianca
  • 12/5
  • 2 total stops
  • 15h 05m total
  • Panama City to Madrid
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Highest demand for flights based on searches. 5% potential increase in price (£26 potential increase over avg. return price).
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Cheapest flight prices on average. 1% potential price decrease (£9 potential savings vs. average return price).
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Average for round-trip flights in January 2026
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Price to beat on a one-way flight from Panama City Tocumen Intl to Madrid Barajas.
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Find 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 9 January 2026.

Mon 19/1018:50PTY - MAD
1 stop31h 40mMultiple Airlines
Tue 3/1110:00MAD - PTY
1 stop16h 10mMultiple Airlines
Deal found 8/1£524
Thu 21/518:50PTY - MAD
1 stop34h 20mMultiple Airlines
Mon 1/606:00MAD - PTY
1 stop20h 45mMultiple Airlines
Deal found 7/1£527
Mon 2/222:05PTY - MAD
1 stop30h 10mKLM
Fri 6/313:05MAD - PTY
1 stop33h 25mKLM
Deal found 7/1£531
Wed 20/518:50PTY - MAD
1 stop35h 50mKLM
Wed 3/610:25MAD - PTY
1 stop37h 25mKLM
Deal found 7/1£533
Thu 7/520:25PTY - MAD
Nonstop9h 50mAir Europa
Fri 22/515:05MAD - PTY
Nonstop10h 35mAir Europa
Deal found 7/1£535
Mon 16/221:30PTY - MAD
Nonstop9h 35mAir Europa
Fri 6/315:10MAD - PTY
Nonstop10h 35mAir Europa
Deal found 8/1£536
Sat 24/122:05PTY - MAD
1 stop30h 10mKLM
Wed 18/211:00MAD - PTY
1 stop35h 30mKLM
Deal found 8/1£536
Mon 26/122:05PTY - MAD
1 stop30h 10mKLM
Tue 10/213:05MAD - PTY
1 stop33h 25mKLM
Deal found 9/1£537
Sat 24/122:05PTY - MAD
1 stop33h 35mKLM
Sun 22/216:50MAD - PTY
1 stop29h 40mKLM
Deal found 8/1£538
Sat 21/218:20PTY - MAD
Nonstop10h 05mIberia
Sat 28/211:40MAD - PTY
Nonstop11h 05mIberia
Deal found 7/1£539
Mon 2/321:45PTY - MAD
1 stop37h 05mTurkish Airlines
Fri 13/311:55MAD - PTY
1 stop37h 55mTurkish Airlines
Deal found 9/1£539
Sat 14/321:45PTY - MAD
1 stop33h 35mTurkish Airlines
Sun 22/311:55MAD - PTY
1 stop37h 55mTurkish Airlines
Deal found 7/1£540

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 9 January 2026.
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

Fri 22/5

18:50-09:30

1 stop31h 40m

Madrid Barajas

Mon 1/6

10:05-19:45

1 stop16h 40m

£531

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Sun 15/2

21:30-13:05

Nonstop9h 35m

Madrid Barajas

Tue 24/2

15:10-19:45

Nonstop10h 35m

£536

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Thu 5/3

21:30-13:05

Nonstop9h 35m

Madrid Barajas

Sun 8/3

15:10-19:45

Nonstop10h 35m

£537

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Wed 18/2

21:45-10:25

1 stop30h 40m

Madrid Barajas

Sat 7/3

14:25-17:05

2 stops32h 40m

£549

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Mon 23/2

21:45-16:50

1 stop37h 05m

Madrid Barajas

Mon 23/3

11:55-17:05

2 stops35h 10m

£549

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Fri 15/5

20:25-13:15

Nonstop9h 50m

Madrid Barajas

Sat 30/5

15:05-18:40

Nonstop10h 35m

£559

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Thu 21/5

18:50-09:30

1 stop31h 40m

Madrid Barajas

Mon 25/5

06:00-16:50

1 stop17h 50m

£576

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Tue 10/2

21:30-13:05

Nonstop9h 35m

Madrid Barajas

Sun 15/2

15:10-19:45

Nonstop10h 35m

£583

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Sun 15/2

21:30-13:05

Nonstop9h 35m

Madrid Barajas

Sun 15/3

15:10-19:45

Nonstop10h 35m

£590

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Sun 15/2

21:30-13:05

Nonstop9h 35m

Madrid Barajas

Thu 19/3

15:10-19:45

Nonstop10h 35m

£590

Flights are sorted by cheapest return flights first.

Deals found on 8/1

Showing 1-10 of 22 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 2 January 2026.

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 £443). Flying from Panama City to Madrid in July is currently the most expensive (average of £528). 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 9 January 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 9 January 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
581 reviews
Check prices

Crew

7.5

Comfort

6.9

Boarding

7.1

Food

6.2

Overall

7.0

Entertainment

6.5

Reviews

1 / 13
4.0
Okay

Anonymous,Dec 2025

BCN - MAD

The flight was heavily delayed which put into question my connection. The boarding and unboarding process was horrible. The airline crams as many people as possible on this short flight. A 787 parks in the middle of the airport and a shuttle bus ferries you in. Why? In a major european airport with a huge plane. In addition, the information provided everywhere on the terminal of arrival was simply wrong and this was not the reality.
Air Europa
7.0
Good
581 reviews
Air Europa
7.0
Good
581 reviews
Check prices

Crew

7.5

Comfort

6.9

Boarding

7.1

Food

6.2

Overall

7.0

Entertainment

6.5

Reviews

1 / 13
4.0
Okay

Anonymous,Dec 2025

BCN - MAD

The flight was heavily delayed which put into question my connection. The boarding and unboarding process was horrible. The airline crams as many people as possible on this short flight. A 787 parks in the middle of the airport and a shuttle bus ferries you in. Why? In a major european airport with a huge plane. In addition, the information provided everywhere on the terminal of arrival was simply wrong and this was not the reality.

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 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 9 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. Air Europa provides one of the quickest options available for as low as £536. 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 (£478), offers the cheapest pricing from Panama City to Madrid. Air Europa is 18% 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 (81%), Iberia (81%) and EL AL (81%).

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

    Looking at all options, your cheapest flight can be booked for £1,251. While the most popular route (Panama City Tocumen Intl - Madrid Barajas) can be booked for £609 on average, our data indicates £1,331 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 £443). Flying from Panama City to Madrid in July is currently the most expensive (average of £528). 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 9 January 2026.
AirlineCheapestAverageFlexibilityOn-time
Air EuropaCheapest£478Average£643FlexibilityNo 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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