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Cheap flights from Panama City to Madrid, Spain from £480

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 5/7. Fares are subject to change and may not be available on all flights or dates of travel.
PTY — MAD
22 Jun — 29 Jun1
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 51 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 23 May 2026.

Tue 19/518:50
PTY
-
MAD
1 stop21h 35m
Multiple Airlines
Sun 24/506:00
MAD
-
PTY
1 stop20h 45m
Multiple Airlines
Deal found 19/5£553
Wed 14/1021:05
PTY
-
MAD
Nonstop10h 05m
Iberia
Fri 30/1016:00
MAD
-
PTY
Nonstop11h 05m
Iberia
Deal found 19/5£560
Fri 6/1122:35
PTY
-
MAD
Nonstop10h 05m
Iberia
Fri 13/1116:00
MAD
-
PTY
Nonstop11h 05m
Iberia
Deal found 19/5£561
Mon 14/909:45
PTY
-
MAD
1 stop16h 15m
United Airlines
Thu 1/1011:15
MAD
-
PTY
2 stops39h 16m
United Airlines
Deal found 20/5£572
Thu 24/909:45
PTY
-
MAD
2 stops38h 05m
United Airlines
Sat 10/1011:15
MAD
-
PTY
2 stops38h 22m
United Airlines
Deal found 22/5£572
Mon 14/909:45
PTY
-
MAD
1 stop16h 15m
United Airlines
Sat 26/912:45
MAD
-
PTY
2 stops37h 46m
United Airlines
Deal found 20/5£574
Mon 21/909:45
PTY
-
MAD
1 stop16h 15m
United Airlines
Fri 2/1012:45
MAD
-
PTY
2 stops37h 46m
United Airlines
Deal found 18/5£575
Sat 17/1009:45
PTY
-
MAD
2 stops38h 05m
United Airlines
Thu 5/1113:35
MAD
-
PTY
2 stops36h 27m
United Airlines
Deal found 22/5£576
Fri 18/909:45
PTY
-
MAD
2 stops38h 05m
United Airlines
Mon 28/912:45
MAD
-
PTY
2 stops37h 46m
United Airlines
Deal found 20/5£577
Mon 21/909:45
PTY
-
MAD
1 stop16h 15m
United Airlines
Tue 6/1013:30
MAD
-
PTY
2 stops37h 01m
United Airlines
Deal found 20/5£578
Mon 16/1110:00
PTY
-
MAD
1 stop17h 15m
United Airlines
Fri 27/1111:00
MAD
-
PTY
2 stops33h 45m
United Airlines
Deal found 20/5£578
Wed 30/909:45
PTY
-
MAD
2 stops38h 05m
United Airlines
Wed 14/1013:30
MAD
-
PTY
2 stops55h 44m
United Airlines
Deal found 20/5£580

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 23 May 2026.

Round-trip from

£560

One-way from

£480

Popular in

July

Cheapest in

February

Average price

£576

Good round-trip deal

£844 or less
Iberia
  • Iberia
  • 14/10-30/10
  • Nonstop
  • 21h 10m total
  • Panama City to Madrid
Search Deals
KLM
  • KLM
  • 16/7
  • 1 total stop
  • 17h 45m total
  • Panama City to Madrid
Search Deals
Highest demand for flights based on searches. 8% potential increase in price (£40 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 May 2026
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 23 May 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

Tue 13/10

10:00-08:05

2 stops39h 05m

Madrid Barajas

Thu 22/10

10:50-19:31

1 stop15h 41m

£572

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Mon 20/7

22:55-08:05

2 stops26h 10m

Madrid Barajas

Tue 28/7

08:25-04:04

2 stops26h 39m

£591

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Mon 6/7

22:55-11:50

2 stops29h 55m

Madrid Barajas

Tue 14/7

13:30-16:12

2 stops33h 42m

£598

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Sat 5/9

15:30-08:05

2 stops57h 35m

Madrid Barajas

Sun 4/10

13:30-19:31

2 stops37h 01m

£608

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Mon 19/10

09:45-06:50

2 stops38h 05m

Madrid Barajas

Wed 28/10

11:00-13:45

2 stops32h 45m

£611

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Thu 9/7

22:55-09:00

1 stop27h 05m

Madrid Barajas

Sun 19/7

05:55-04:04

2 stops29h 09m

£621

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Sat 29/8

15:30-08:05

2 stops33h 35m

Madrid Barajas

Sat 19/9

06:20-19:31

2 stops20h 11m

£624

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Fri 16/10

22:20-22:35

1 stop41h 15m

Madrid Barajas

Tue 20/10

12:00-20:25

1 stop39h 25m

£653
Fastest return journey

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Sun 13/9

20:25-13:15

Nonstop9h 50m

Madrid Barajas

Fri 2/10

15:05-18:40

Nonstop10h 35m

£704

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Mon 19/10

22:20-10:25

1 stop29h 05m

Madrid Barajas

Sun 1/11

14:25-19:50

1 stop35h 25m

£710

Flights are sorted by cheapest return flights first.

Deals found on 22/5

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

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 £546). Flying from Panama City to Madrid in July is currently the most expensive (average of £716). 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 23 May 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 23 May 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
613 reviews
Check prices

Entertainment

6.5

Comfort

6.9

Boarding

7.1

Food

6.3

Crew

7.5

Overall

7.0

Reviews

1 / 15
10.0
Excellent

Greg,Apr 2026

JFK - MAD

Everything went well. We had a baggage issue but it was taken care of. Staff was very friendly.
Air Europa
7.0
Good
613 reviews
Air Europa
7.0
Good
613 reviews
Check prices

Entertainment

6.5

Comfort

6.9

Boarding

7.1

Food

6.3

Crew

7.5

Overall

7.0

Reviews

1 / 15
10.0
Excellent

Greg,Apr 2026

JFK - MAD

Everything went well. We had a baggage issue but it was taken care of. Staff was very friendly.

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 17 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 26h 10m. United Airlines provides one of the quickest options available for as low as £591. 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 (£524), offers the cheapest pricing from Panama City to Madrid. Air Europa is 15% 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 (85%), Etihad Airways (85%) and China Eastern (85%).

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

    Looking at all options, your cheapest flight can be booked for £835. While the most popular route (Panama City Tocumen Intl - Madrid Barajas) can be booked for £773 on average, our data indicates £865 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, February is the cheapest month in which you can book a flight from Panama City to Madrid (average of £546). Flying from Panama City to Madrid in July is currently the most expensive (average of £716). 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
San Lorenzo de El Escorial
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 23 May 2026.
AirlineCheapestAverageFlexibilityOn-time
Air EuropaCheapest£524Average£644FlexibilityNo 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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