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Cheap flights from Panama City to Madrid, Spain from C$ 853

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 30/6. Fares are subject to change and may not be available on all flights or dates of travel.
PTY — MAD
27 Feb — 6 Mar1
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 28 January 2026.

Wed 4/26:45 p.m.
PTY
-
MAD
1 stop22h 40m
KLM
Wed 11/36:00 a.m.
MAD
-
PTY
1 stop16h 30m
KLM
Deal found 27/1C$ 899
Wed 4/26:45 p.m.
PTY
-
MAD
1 stop22h 40m
Multiple Airlines
Sun 15/26:45 p.m.
MAD
-
PTY
1 stop31h 25m
Multiple Airlines
Deal found 27/1C$ 901
Sun 10/59:30 p.m.
PTY
-
MAD
Nonstop9h 50m
Iberia
Fri 22/53:55 p.m.
MAD
-
PTY
Nonstop11h 05m
Iberia
Deal found 26/1C$ 904
Mon 1/66:50 p.m.
PTY
-
MAD
1 stop31h 40m
Multiple Airlines
Wed 10/64:40 p.m.
MAD
-
PTY
1 stop34h 05m
Multiple Airlines
Deal found 26/1C$ 909
Fri 1/59:30 p.m.
PTY
-
MAD
Nonstop9h 50m
Iberia
Sun 31/53:55 p.m.
MAD
-
PTY
Nonstop11h 05m
Iberia
Deal found 26/1C$ 919
Mon 15/66:50 p.m.
PTY
-
MAD
1 stop14h 35m
Multiple Airlines
Mon 22/612:20 p.m.
MAD
-
PTY
1 stop14h 25m
Multiple Airlines
Deal found 26/1C$ 921
Wed 4/26:45 p.m.
PTY
-
MAD
1 stop22h 40m
Multiple Airlines
Wed 11/36:00 a.m.
MAD
-
PTY
2 stops16h 30m
Multiple Airlines
Deal found 27/1C$ 928
Mon 25/56:50 p.m.
PTY
-
MAD
1 stop31h 40m
Multiple Airlines
Sun 14/66:00 a.m.
MAD
-
PTY
1 stop20h 45m
Multiple Airlines
Deal found 25/1C$ 935
Mon 9/26:45 p.m.
PTY
-
MAD
1 stop33h 30m
KLM
Mon 23/28:30 p.m.
MAD
-
PTY
1 stop26h 00m
KLM
Deal found 26/1C$ 939
Mon 16/116:45 p.m.
PTY
-
MAD
1 stop22h 40m
Multiple Airlines
Sun 22/1110:00 a.m.
MAD
-
PTY
1 stop16h 10m
Multiple Airlines
Deal found 27/1C$ 942
Mon 8/66:50 p.m.
PTY
-
MAD
1 stop21h 35m
Multiple Airlines
Fri 12/612:20 p.m.
MAD
-
PTY
1 stop14h 25m
Multiple Airlines
Deal found 26/1C$ 943
Wed 4/26:45 p.m.
PTY
-
MAD
1 stop22h 40m
KLM
Wed 18/27:05 a.m.
MAD
-
PTY
1 stop15h 25m
KLM
Deal found 27/1C$ 945

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 28 January 2026.

Round-trip from

C$ 904

One-way from

C$ 853

Popular in

December

Cheapest in

February

Average price

C$ 1,115

Good round-trip deal

C$ 3,848 or less

Good one-way deal

C$ 869 or less
Iberia
  • Iberia
  • 10/5-22/5
  • Nonstop
  • 20h 55m total
  • Panama City to Madrid
Search Deals
Air Europa
  • Air Europa
  • 30/6
  • Nonstop
  • 9h 50m total
  • Panama City to Madrid
Search Deals
Highest demand for flights based on searches. 5% potential increase in price (C$ 83 potential increase over avg. RT price).
Search Deals
Cheapest flight prices on average. 1% potential price decrease (C$ 27 potential savings vs. average RT price).
Search Deals
Average for round-trip flights in January 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 28 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 1/5

9:30 p.m.-2:20 p.m.

Nonstop9h 50m

Madrid Barajas

Sun 31/5

3:55 p.m.-8:00 p.m.

Nonstop11h 05m

C$ 919

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Sat 23/5

8:25 p.m.-1:15 p.m.

Nonstop9h 50m

Madrid Barajas

Thu 11/6

3:05 p.m.-6:40 p.m.

Nonstop10h 35m

C$ 984

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Wed 3/6

9:30 p.m.-2:20 p.m.

Nonstop9h 50m

Madrid Barajas

Wed 10/6

3:55 p.m.-8:00 p.m.

Nonstop11h 05m

C$ 991

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Sat 21/3

9:45 p.m.-10:50 a.m.

1 stop31h 05m

Madrid Barajas

Tue 24/3

11:55 a.m.-7:50 p.m.

1 stop37h 55m

C$ 1,029

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Fri 22/5

9:30 p.m.-2:20 p.m.

Nonstop9h 50m

Madrid Barajas

Sun 14/6

3:55 p.m.-8:00 p.m.

Nonstop11h 05m

C$ 1,036

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Wed 11/2

10:05 p.m.-10:15 a.m.

1 stop30h 10m

Madrid Barajas

Thu 19/2

7:05 a.m.-4:30 p.m.

1 stop15h 25m

C$ 1,107

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Wed 11/3

9:45 p.m.-1:20 p.m.

1 stop33h 35m

Madrid Barajas

Tue 17/3

6:20 a.m.-5:05 p.m.

2 stops40h 45m

C$ 1,114

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Mon 16/2

9:45 p.m.-1:20 p.m.

1 stop33h 35m

Madrid Barajas

Mon 23/2

11:55 a.m.-5:05 p.m.

2 stops35h 10m

C$ 1,115

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Thu 21/5

8:25 p.m.-1:15 p.m.

Nonstop9h 50m

Madrid Barajas

Wed 17/6

3:05 p.m.-6:40 p.m.

Nonstop10h 35m

C$ 1,145

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Thu 21/5

8:25 p.m.-1:15 p.m.

Nonstop9h 50m

Madrid Barajas

Sun 14/6

3:05 p.m.-6:40 p.m.

Nonstop10h 35m

C$ 1,145

Flights are sorted by cheapest round-trip flights first.

Deals found on 25/1

Showing 1-10 of 24 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 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 23 January 2026.

The best time to book flights from Panama City to Madrid is 58 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, March is the cheapest month in which you can book a flight from Panama City to Madrid (average of C$ 815). Flying from Panama City to Madrid in July is currently the most expensive (average of C$ 972). 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 28 January 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 9h 50m. Fly via Turkish Airlines, Iberia, or Air Europa 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$ 2,395 for a flight from Panama City to Madrid. The cheapest flight overall is C$ 869 while the most popular route, (Panama City Tocumen Intl - Madrid Barajas) is currently priced at C$ 1,014.

  • 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, March is the cheapest month in which you can book a flight from Panama City to Madrid (average of C$ 815). Flying from Panama City to Madrid in July is currently the most expensive (average of C$ 972). 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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Can Cheapflights find flights from Panama City to Madrid with no change fees?

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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