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Cheap flights from Panama City to Madrid, Spain from C$ 841

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 27/5. Fares are subject to change and may not be available on all flights or dates of travel.
PTY — MAD
12 kwi — 19 kwi1
1 adult
1 adult, Economy, 0 bags

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 13 marca 2026.

pon. 20/42:27 p.m.
PTY
-
MAD
1 stop14h 48m
Air France
pon. 27/412:20 p.m.
MAD
-
PTY
1 stop14h 25m
Air France
Deal found 8/3C$ 887
śr. 3/66:50 p.m.
PTY
-
MAD
1 stop31h 40m
KLM
wt. 16/67:05 a.m.
MAD
-
PTY
1 stop16h 45m
KLM
Deal found 10/3C$ 960
śr. 27/56:50 p.m.
PTY
-
MAD
1 stop35h 50m
Multiple Airlines
śr. 17/64:40 p.m.
MAD
-
PTY
1 stop34h 05m
Multiple Airlines
Deal found 9/3C$ 978
śr. 27/56:50 p.m.
PTY
-
MAD
1 stop35h 50m
KLM
ndz. 31/58:30 p.m.
MAD
-
PTY
1 stop27h 20m
KLM
Deal found 9/3C$ 984
wt. 28/48:25 p.m.
PTY
-
MAD
Nonstop9h 50m
Air Europa
sob. 16/53:05 p.m.
MAD
-
PTY
Nonstop10h 35m
Air Europa
Deal found 11/3C$ 989
śr. 15/410:20 p.m.
PTY
-
MAD
1 stop29h 05m
Turkish Airlines
śr. 22/47:40 a.m.
MAD
-
PTY
1 stop19h 45m
Turkish Airlines
Deal found 11/3C$ 993
ndz. 19/48:25 p.m.
PTY
-
MAD
Nonstop9h 50m
Air Europa
czw. 23/43:05 p.m.
MAD
-
PTY
Nonstop10h 35m
Air Europa
Deal found 10/3C$ 996
pon. 20/410:20 p.m.
PTY
-
MAD
1 stop35h 35m
Turkish Airlines
śr. 20/57:40 a.m.
MAD
-
PTY
1 stop19h 45m
Turkish Airlines
Deal found 11/3C$ 1,000
śr. 27/510:20 p.m.
PTY
-
MAD
1 stop29h 05m
Turkish Airlines
śr. 3/67:40 a.m.
MAD
-
PTY
1 stop19h 45m
Turkish Airlines
Deal found 11/3C$ 1,007

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 13 marca 2026.

Round-trip from

C$ 887

One-way from

C$ 841

Popular in

December

Cheapest in

February

Average price

C$ 1,043

Good round-trip deal

C$ 3,830 or less

Good one-way deal

C$ 930 or less
Air France
  • Air France
  • 20/4-27/4
  • 2 total stops
  • 29h 13m total
  • Panama City to Madrid
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Avianca
  • Avianca
  • 27/5
  • 1 total stop
  • 21h 40m total
  • Panama City to Madrid
Search Deals
Highest demand for flights based on searches. 4% potential increase in price (C$ 65 potential increase over avg. RT price).
Search Deals
Cheapest flight prices on average. 1% potential price decrease (C$ 24 potential savings vs. average RT price).
Search Deals
Average for round-trip flights in March 2026
Search Deals
Price to beat on a round-trip flight from Panama City Tocumen Intl to Madrid Barajas.
Search Deals
Price to beat on a one-way flight from Panama City Tocumen Intl to Madrid Barajas.
Search Deals

Cheapflights Fare Finder

 
Customize 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 629,999 searches. Data last updated 13 marca 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 round-trip

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

śr. 29/4

10:20 p.m.-4:55 p.m.

1 stop35h 35m

Madrid Barajas

ndz. 17/5

6:25 p.m.-8:25 p.m.

1 stop33h 00m

C$ 1,129

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

śr. 27/5

10:20 p.m.-10:35 p.m.

1 stop41h 15m

Madrid Barajas

śr. 17/6

12:00 p.m.-6:30 p.m.

2 stops37h 30m

C$ 1,141

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

pt. 15/5

10:00 a.m.-8:05 a.m.

2 stops39h 05m

Madrid Barajas

śr. 27/5

10:50 a.m.-7:31 p.m.

1 stop15h 41m

C$ 1,154

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

pon. 27/4

9:45 a.m.-9:00 a.m.

1 stop16h 15m

Madrid Barajas

pon. 4/5

11:15 a.m.-4:12 p.m.

2 stops35h 57m

C$ 1,154

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

sob. 29/8

10:00 a.m.-8:05 a.m.

2 stops39h 05m

Madrid Barajas

sob. 12/9

10:50 a.m.-7:31 p.m.

1 stop15h 41m

C$ 1,154
Quickest round-trip

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

wt. 5/5

3:30 p.m.-8:05 a.m.

2 stops33h 35m

Madrid Barajas

wt. 19/5

10:50 a.m.-7:31 p.m.

1 stop15h 41m

C$ 1,166

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

śr. 29/4

3:30 p.m.-8:05 a.m.

2 stops33h 35m

Madrid Barajas

sob. 16/5

10:50 a.m.-7:31 p.m.

1 stop15h 41m

C$ 1,166

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

pt. 1/5

3:30 p.m.-8:05 a.m.

2 stops33h 35m

Madrid Barajas

pt. 29/5

12:45 p.m.-7:31 p.m.

2 stops37h 46m

C$ 1,171

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

czw. 7/5

3:30 p.m.-8:05 a.m.

2 stops33h 35m

Madrid Barajas

pon. 18/5

11:15 a.m.-2:14 p.m.

2 stops33h 59m

C$ 1,173

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

czw. 21/5

9:45 a.m.-4:45 p.m.

2 stops24h 00m

Madrid Barajas

czw. 4/6

11:15 a.m.-2:14 p.m.

2 stops33h 59m

C$ 1,190

Flights are sorted by cheapest round-trip flights first.

Deals found on 12/3

Showing 1-10 of 20 resultsSorted by cheapest first
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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 round-trip 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 round-trip flight from Panama City to Madrid. Price data was last updated on 6 March 2026.

The best time to book flights from Panama City to Madrid is 51 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 Panama City to Madrid?

Currently, May is the cheapest month in which you can book a flight from Panama City to Madrid (average of C$ 835). Flying from Panama City to Madrid in July is currently the most expensive (average of C$ 975). 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 13 marca 2026.

Regardless of the time of day you decide to fly, the ticket price will remain around the same. Book flights from Panama City to Madrid as you normally would.

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.

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

    This flight path from Panama City Tocumen Intl to Madrid Barajas was viewed by 2 users in the past month. Keep an eye out for changes in search interest prior to high and low season.

  • How long is the flight from Panama City to Madrid?

    There are many flights that can get you from Panama City to Madrid in 35h 35m. Fly via Turkish Airlines or United Airlines to get the fastest option. The distance from Panama City to Madrid is about 8151 km. This flight may include one or multiple stops.

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

    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 Panama City to Madrid on time: Qatar Airways (84%), Iberia (84%), EL AL (84%).

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

    On average you can expect to pay C$ 2,384 for a flight from Panama City to Madrid. The cheapest flight overall is C$ 930 while the most popular route, (Panama City Tocumen Intl - Madrid Barajas) is currently priced at C$ 958.

  • 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 vacation 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, May is the cheapest month in which you can book a flight from Panama City to Madrid (average of C$ 835). Flying from Panama City to Madrid in July is currently the most expensive (average of C$ 975). 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

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Need flexible booking options for your flight to Madrid from Panama City? Don’t worry, Cheapflights have you covered. Use our search filter to only show flights with no change fees.

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

Yes, Cheapflights offers price alerts on Panama City to Madrid flights so you can book your travel at the perfect time. Price Alerts can be enabled by clicking the bell icon next to the flight deals above and providing your email address where you want to receive the alerts.

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