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Cheap flights from Madrid, Spain to Panama City from £324

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 26/8. Fares are subject to change and may not be available on all flights or dates of travel.
MAD — PTY
18 Jun — 25 Jun1
1 adult

Cheapflights Tip: The best prices from Madrid Barajas to Panama City Tocumen Intl are usually found in March or September, booked 88 days in advance, depart on a Monday or Thursday and return on a Saturday

Cheap flight deals from Madrid to Panama City

Discover tips and strategies to find the most affordable flight options for your journey from Madrid (MAD) to Panama City (PTY). 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 13 June 2025.

Round-trip from

£518

One-way from

£324

Popular in

December

Cheapest in

March

Average price

£549

Good round-trip deal

£499 or less

Good one-way deal

£400 or less
Air Europa
  • Air Europa
  • 8/11-9/11
  • Nonstop
  • 20h 10m total
  • Madrid to Panama City
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Avianca
  • Avianca
  • 26/8
  • 1 total stop
  • 22h 00m total
  • Madrid to Panama City
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Highest demand for flights based on searches. 7% potential increase in price (£36 potential increase over avg. return price).
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Cheapest flight prices on average. 3% potential price decrease (£14 potential savings vs. average return price).
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Average for round-trip flights in June 2025
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Price to beat on a round-trip flight from Madrid Barajas to Panama City Tocumen Intl.
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Price to beat on a one-way flight from Madrid Barajas to Panama City Tocumen Intl.
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Find flight deals from Madrid to Panama City

Cheapest flights from Madrid to Panama City
Explore the most affordable flight options available from Madrid to Panama City. Find the lowest fares from popular airlines and budget airlines, with prices last updated on 13 June 2025.

Thu 12/612:00MAD - PTY
Nonstop11h 05mIberia
Mon 23/617:10PTY - MAD
Nonstop10h 05mIberia
Deal found 11/6£514
Sat 8/1115:10MAD - PTY
Nonstop10h 35mAir Europa
Sun 9/1121:30PTY - MAD
Nonstop9h 35mAir Europa
Deal found 13/6£518
Sat 14/612:45MAD - PTY
2 stops32h 05mUnited Airlines
Sun 22/615:30PTY - MAD
2 stops34h 30mUnited Airlines
Deal found 12/6£521
Tue 28/1000:35MAD - PTY
2 stops18h 00mAvianca
Tue 18/1103:19PTY - MAD
1 stop13h 16mAvianca
Deal found 11/6£534
Sun 22/610:20MAD - PTY
1 stop37h 30mKLM
Sun 29/618:50PTY - MAD
1 stop31h 45mKLM
Deal found 12/6£548
Sun 2/1110:00MAD - PTY
2 stops33h 47mDelta
Sun 9/1108:05PTY - MAD
1 stop18h 55mDelta
Deal found 11/6£549
Mon 16/620:25MAD - PTY
1 stop27h 25mMultiple Airlines
Tue 1/719:55PTY - MAD
1 stop13h 50mMultiple Airlines
Deal found 12/6£556
Wed 17/1217:55MAD - PTY
2 stops29h 10mTurkish Airlines
Tue 30/1218:45PTY - MAD
1 stop22h 45mTurkish Airlines
Deal found 12/6£787

Cheapflights Fare Finder

Customise your flight search to find flights from Madrid to Panama City 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 13 June 2025.
Use the filters below to find and compare flights from Madrid to Panama City that are best for you.

Fly from

Madrid

Fly to

Panama City

Route

Depart

Return

Price

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Sat 8/11

15:10-19:45

Nonstop10h 35m

Panama City Tocumen Intl

Tue 11/11

21:30-13:05

Nonstop9h 35m

£518

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Tue 28/10

00:35-12:35

2 stops18h 00m

Panama City Tocumen Intl

Tue 18/11

03:19-22:35

1 stop13h 16m

£534

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Sun 2/11

10:00-13:47

2 stops33h 47m

Panama City Tocumen Intl

Sun 9/11

08:05-09:00

1 stop18h 55m

£549

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Fri 22/8

13:05-16:50

1 stop34h 45m

Panama City Tocumen Intl

Thu 18/9

18:50-09:35

1 stop31h 45m

£558

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Wed 25/6

10:50-19:31

1 stop15h 41m

Panama City Tocumen Intl

Sat 26/7

09:45-09:00

1 stop16h 15m

£578

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Tue 8/7

20:25-16:50

1 stop27h 25m

Panama City Tocumen Intl

Tue 22/7

19:55-16:45

1 stop13h 50m

£578

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Sat 9/8

18:20-18:20

2 stops31h 00m

Panama City Tocumen Intl

Wed 3/9

21:55-10:25

1 stop29h 30m

£802

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Sun 6/7

12:00-15:40

Nonstop10h 40m

Panama City Tocumen Intl

Tue 8/7

07:55-10:50

1 stop19h 55m

£817

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Tue 26/8

01:30-16:30

1 stop22h 00m

£324

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Wed 3/9

15:05-18:40

Nonstop10h 35m

£435

Flights are sorted by cheapest return flights first.

Deals found on 11/6

Showing 1-10 of 13 results
1
2

Best time to book a flight from Madrid to Panama City

Have a flexible travel schedule? Discover the best time to fly to Panama City from Madrid 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 Madrid to Panama City

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

Use this chart to determine the optimal time to book a return flight from Madrid to Panama City. Price data was last updated on 9 June 2025.

The best time to book flights from Madrid to Panama City is 88 days before your desired departure date. The cost of your flight will likely increase significantly if you book two weeks in advance of your flight.

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

Currently, April is the cheapest month in which you can book a flight from Madrid to Panama City (average of £763). Flying from Madrid to Panama City in December is currently the most expensive (average of £1,051). 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 MAD to PTY?

Find hourly flight availability from Madrid to Panama City. Discover flight options and departure times throughout the day, allowing you to choose a departure time that suits your schedule. Data last updated 13 June 2025.

When flying from Madrid to Panama City, the time of day you fly usually plays a role in the price. Save by searching for a flight at midday, which can drop the price by up to 11% versus a flight in the morning.

Weekly flight availability from Madrid to Panama City

Explore weekly flight availability from Madrid to Panama City. Discover flights operating on different days of the week, giving you the flexibility to choose a travel day that best fits your plans. Compare info to find the most convenient option for your journey. Data last updated 13 June 2025.

The most flights from MAD to PTY are scheduled on a Saturday (9 on average). You will have fewer flight options on Tuesday, which is when the least amount of flights are scheduled (3 on average).

Rainfall in Panama City by month

Plan your trip to Panama City by taking into account the average rainfall totals by month.

In terms of precipitation, rainfall in Panama City ranges from 10.0 - 340.0 inches per month. October is typically the wettest month, when rainfall can reach 340.0 mm. February is typically the driest time to visit Panama City when rainfall is around 10.0 mm.

Temperature in Panama City by month

Plan your trip to Panama City by taking into account the average temperature totals by month.

If weather is an important factor for your trip to Panama City, use this chart to help with planning. For those seeking warmer temperatures, February is the ideal time of year to visit, when temperatures reach an average of 27.0 C. Travellers hoping to avoid the cold should look outside of January, when temperatures are typically at their lowest (around 26.0 C).

Reviews of airlines servicing Panama City

Get insights into the airlines that provide service to Panama City. 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 Panama City. Reviews last updated 13 June 2025.
Read reviews from past customers who have flown Delta, KLM and United Airlines from Madrid to Panama City. Reviews also offer insight into each airline's entertainment options, comfort, food, crew/service, and boarding process.
Delta
8.0
Very Good
7,950 reviews
Check prices

Food

7.3

Boarding

8.2

Entertainment

7.9

Overall

8.0

Comfort

7.9

Crew

8.5

Reviews

1 / 20
4.0
Okay

Peter,Oct 2023

MSP - GEG

The amount of carry on is put of control. We were in group 3 boarding and there was no room in upper storage for our 1 bag (between 2 people) Just because we can’t afford to up grade our seats… $2000 more. We get penaltized. Make us feel less than
Delta
8.0
Very Good
7,950 reviews
Delta
8.0
Very Good
7,950 reviews
Check prices

Food

7.3

Boarding

8.2

Entertainment

7.9

Overall

8.0

Comfort

7.9

Crew

8.5

Reviews

1 / 20
4.0
Okay

Peter,Oct 2023

MSP - GEG

The amount of carry on is put of control. We were in group 3 boarding and there was no room in upper storage for our 1 bag (between 2 people) Just because we can’t afford to up grade our seats… $2000 more. We get penaltized. Make us feel less than
KLM
7.8
Good
1,358 reviews
Delta
8.0
Very Good
7,950 reviews
Check prices

Food

7.3

Boarding

8.2

Entertainment

7.9

Overall

8.0

Comfort

7.9

Crew

8.5

Reviews

1 / 20
4.0
Okay

Peter,Oct 2023

MSP - GEG

The amount of carry on is put of control. We were in group 3 boarding and there was no room in upper storage for our 1 bag (between 2 people) Just because we can’t afford to up grade our seats… $2000 more. We get penaltized. Make us feel less than
United Airlines
7.4
Good
8,790 reviews
Delta
8.0
Very Good
7,950 reviews
Check prices

Food

7.3

Boarding

8.2

Entertainment

7.9

Overall

8.0

Comfort

7.9

Crew

8.5

Reviews

1 / 20
4.0
Okay

Peter,Oct 2023

MSP - GEG

The amount of carry on is put of control. We were in group 3 boarding and there was no room in upper storage for our 1 bag (between 2 people) Just because we can’t afford to up grade our seats… $2000 more. We get penaltized. Make us feel less than
Turkish Airlines
7.3
Good
3,849 reviews
Delta
8.0
Very Good
7,950 reviews
Check prices

Food

7.3

Boarding

8.2

Entertainment

7.9

Overall

8.0

Comfort

7.9

Crew

8.5

Reviews

1 / 20
4.0
Okay

Peter,Oct 2023

MSP - GEG

The amount of carry on is put of control. We were in group 3 boarding and there was no room in upper storage for our 1 bag (between 2 people) Just because we can’t afford to up grade our seats… $2000 more. We get penaltized. Make us feel less than
Iberia
7.0
Good
2,776 reviews
Delta
8.0
Very Good
7,950 reviews
Check prices

Food

7.3

Boarding

8.2

Entertainment

7.9

Overall

8.0

Comfort

7.9

Crew

8.5

Reviews

1 / 20
4.0
Okay

Peter,Oct 2023

MSP - GEG

The amount of carry on is put of control. We were in group 3 boarding and there was no room in upper storage for our 1 bag (between 2 people) Just because we can’t afford to up grade our seats… $2000 more. We get penaltized. Make us feel less than

Related info for your journey

Find useful and relevant information for your journey from Madrid to Panama City. 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 Madrid to Panama City?

    You will need to book a flight from Madrid Barajas to Panama City Tocumen Intl if you want to fly from Madrid to Panama City. At least 2 different airlines have flights from Barajas (MAD) to Tocumen Intl (PTY) on a regular basis. There are 4 flights to Panama City from the Madrid airport per day. If you manage to book one that is nonstop, then you can expect the flight time from MAD to PTY to be around 10h 35m.

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

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

  • What are the cheapest airlines flying from Madrid to Panama City round-trip?

    Our cheapest airline available from Madrid to Panama City is Air Europa. Our recent data shows that you can find tickets from as low as £518 on this airline. Additional options worth looking into are Avianca and Delta, starting at £534 and £549 round-trip. Air Europa is 12% cheaper than the average price of flights available within the next 90 days to this destination.

  • What are the cheapest airlines to fly from Madrid to Panama City one-way?

    For one-way options, check prices for Avianca. According to our data, you can fly for as low as £324. Users have also found prices from £435 and £478 on Air Europa and KLM, respectively.

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

    Looking for the most reliable airlines to get you to your destination on time? Our data shows these are most likely to get you from Madrid to Panama City on time: Qatar Airways (74%), Iberia (74%), EL AL (74%).

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

    The cheapest flight price from Madrid to Panama City is £390. On average you can expect to pay £468. The most popular route, (Madrid Barajas - Panama City Tocumen Intl), can usually be booked for £656.

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

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

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

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

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

    Yes. Cheapflights offers flight deals from Madrid to Panama City 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 Madrid to Panama City?

    Currently, April is the cheapest month in which you can book a flight from Madrid to Panama City (average of £763). Flying from Madrid to Panama City in December is currently the most expensive (average of £1,051). 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
San Blas

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Top 2 airlines flying from Madrid to Panama City

Discover the top 2 airlines that operate flights from Madrid to Panama City. 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 13 June 2025.
AirlineCheapestAverageFlexibilityOn-time
Air EuropaCheapest£488Average£536FlexibilityNo cancel feeOn-time83%
Search Air Europa flights
IberiaCheapest£548Average£669FlexibilityNo cancel feeOn-time77%
Search Iberia flights

Fly with Cheapflights

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

Deals for Madrid to Panama City flights are sourced from 900+ travel sites when you use Cheapflights. When all flight results come back, Cheapflights lets you sort and filter flights using different criteria to choose better, like price, airport, cabin class, and plenty of other options.

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

Cheapflights helps you find that perfect flight to Panama City from Madrid by searching from hundreds of airlines and agencies you know and love. We are also free to use, in case you were wondering!

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

Cheapflights does show flights with no change fees to all users. To see these options for flights from Madrid to Panama City, users can toggle the no change fees filter when performing a flight search.

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

Not ready to book yet? You can track prices for flights from Madrid to Panama City on Cheapflights with our Price Alert feature and get notified when better prices are available.

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