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Cheap flights from Madrid, Spain to Panama City from £298

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 5/5. Fares are subject to change and may not be available on all flights or dates of travel.
MAD — PTY
5 May — 12 May1
1 adult

Cheapflights Tip: The best prices from Madrid Barajas to Panama City Tocumen Intl are usually found in March or September, booked 44 days in advance, depart on a Tuesday or Friday 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 30 April 2025.

Round-trip from

£492

One-way from

£298

Popular in

December

Cheapest in

March

Average price

£609

Good one-way deal

£403 or less
KLM
  • KLM
  • 17/5-10/6
  • 2 total stops
  • 42h 00m total
  • Madrid to Panama City
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Iberia
  • Iberia
  • 5/5
  • Nonstop
  • 11h 05m total
  • Madrid to Panama City
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Highest demand for flights based on searches. 8% potential increase in price (£42 potential increase over avg. return price).
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Cheapest flight prices on average. 3% potential price decrease (£15 potential savings vs. average return price).
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Average for round-trip flights in April 2025
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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 30 April 2025.

Fri 9/512:45MAD - PTY
2 stops46h 20mUnited Airlines
Sun 25/522:55PTY - MAD
1 stop27h 05mUnited Airlines
Deal found 29/4£490
Sat 17/520:25MAD - PTY
1 stop27h 25mKLM
Tue 10/618:50PTY - MAD
1 stop14h 35mKLM
Deal found 29/4£492
Fri 22/806:00MAD - PTY
1 stop17h 50mMultiple Airlines
Thu 18/919:55PTY - MAD
1 stop13h 50mMultiple Airlines
Deal found 30/4£493
Sun 2/1115:10MAD - PTY
Nonstop10h 35mAir Europa
Fri 28/1121:30PTY - MAD
Nonstop9h 35mAir Europa
Deal found 29/4£520
Sat 10/512:00MAD - PTY
Nonstop11h 05mIberia
Sat 24/517:35PTY - MAD
Nonstop9h 50mIberia
Deal found 28/4£521
Thu 21/812:40MAD - PTY
2 stops55h 14mDelta
Wed 3/914:12PTY - MAD
2 stops34h 38mDelta
Deal found 29/4£555
Sat 10/510:05MAD - PTY
1 stop14h 40mAir France
Sun 25/519:55PTY - MAD
1 stop30h 15mAir France
Deal found 28/4£597
Thu 22/501:30MAD - PTY
1 stop15h 40mAvianca
Thu 5/603:20PTY - MAD
1 stop13h 10mAvianca
Deal found 29/4£673
Fri 9/516:40MAD - PTY
2 stops26h 39mAmerican Airlines
Fri 23/513:20PTY - MAD
2 stops35h 55mAmerican Airlines
Deal found 28/4£768

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 30 April 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 17/5

20:25-16:50

1 stop27h 25m

Panama City Tocumen Intl

Tue 10/6

18:50-16:25

1 stop14h 35m

£492

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Fri 22/8

06:00-16:50

1 stop17h 50m

Panama City Tocumen Intl

Thu 18/9

19:55-16:45

1 stop13h 50m

£493

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Sat 10/5

12:00-16:05

Nonstop11h 05m

Panama City Tocumen Intl

Sat 24/5

17:35-10:25

Nonstop9h 50m

£521

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Wed 21/5

10:50-19:31

1 stop15h 41m

Panama City Tocumen Intl

Fri 30/5

09:45-16:15

2 stops23h 30m

£525

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Thu 19/6

15:05-18:40

Nonstop10h 35m

Panama City Tocumen Intl

Sat 12/7

20:25-13:15

Nonstop9h 50m

£545

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Thu 21/8

10:05-12:54

1 stop33h 49m

Panama City Tocumen Intl

Fri 5/9

14:12-07:50

2 stops58h 38m

£555

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Sat 10/5

10:05-17:45

1 stop14h 40m

Panama City Tocumen Intl

Sun 25/5

19:55-09:10

1 stop30h 15m

£597

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Thu 22/5

01:30-10:10

1 stop15h 40m

Panama City Tocumen Intl

Thu 5/6

03:20-23:30

1 stop13h 10m

£673

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Sat 10/5

17:30-12:19

2 stops25h 49m

Panama City Tocumen Intl

Fri 23/5

13:20-08:15

2 stops35h 55m

£768

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Tue 5/8

18:20-18:20

2 stops31h 00m

Panama City Tocumen Intl

Fri 8/8

21:55-13:35

1 stop32h 40m

£810

Flights are sorted by cheapest return flights first.

Deals found on 29/4

Showing 1-10 of 15 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 25 April 2025.

The best time to book flights from Madrid to Panama City is 44 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 30 April 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 in the morning, which can drop the price by up to 6% versus a flight at midday.

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 30 April 2025.
Read reviews from past customers who have flown Delta, KLM and Air France 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
7,934 reviews
Check prices

Boarding

8.2

Crew

8.5

Comfort

7.9

Entertainment

7.9

Food

7.3

Overall

8.0

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
7,934 reviews
Delta
8.0
Very Good
7,934 reviews
Check prices

Boarding

8.2

Crew

8.5

Comfort

7.9

Entertainment

7.9

Food

7.3

Overall

8.0

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
1,334 reviews
Delta
8.0
Very Good
7,934 reviews
Check prices

Boarding

8.2

Crew

8.5

Comfort

7.9

Entertainment

7.9

Food

7.3

Overall

8.0

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
Air France
7.4
Good
1,446 reviews
Delta
8.0
Very Good
7,934 reviews
Check prices

Boarding

8.2

Crew

8.5

Comfort

7.9

Entertainment

7.9

Food

7.3

Overall

8.0

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
8,696 reviews
Delta
8.0
Very Good
7,934 reviews
Check prices

Boarding

8.2

Crew

8.5

Comfort

7.9

Entertainment

7.9

Food

7.3

Overall

8.0

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
3,790 reviews
Delta
8.0
Very Good
7,934 reviews
Check prices

Boarding

8.2

Crew

8.5

Comfort

7.9

Entertainment

7.9

Food

7.3

Overall

8.0

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 16h 40m.

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

    Flights from Madrid Barajas to Panama City Tocumen Intl have been viewed 13 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 KLM. Our recent data shows that you can find tickets from as low as £492 on this airline. Additional options worth looking into are Iberia and United Airlines, starting at £521 and £525 round-trip. KLM is 16% 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 Iberia. According to our data, you can fly for as low as £298. Users have also found prices from £332 and £579 on Air Europa and Turkish Airlines, 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 (70%), Iberia (70%), EL AL (70%).

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

    The cheapest flight price from Madrid to Panama City is £364. On average you can expect to pay £408. The most popular route, (Madrid Barajas - Panama City Tocumen Intl), can usually be booked for £1,034.

  • 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 30 April 2025.
AirlineCheapestAverageFlexibilityOn-time
Air EuropaCheapest£436Average£592FlexibilityNo cancel feeOn-time83%
Search Air Europa flights
IberiaCheapest£556Average£678FlexibilityNo 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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