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Cheap flights from Panama City to Madrid, Spain from C$ 792

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 8/10. Fares are subject to change and may not be available on all flights or dates of travel.
PTY — MAD
29 May — 5 Jun1
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 29 April 2026.

Wed 8/74:25 a.m.
PTY
-
MAD
1 stop12h 55m
Avianca
Thu 17/911:05 a.m.
MAD
-
PTY
1 stop20h 30m
Avianca
Deal found 27/4C$ 983
Sat 19/122:55 a.m.
PTY
-
MAD
1 stop14h 25m
Avianca
Mon 1/26:35 a.m.
MAD
-
PTY
1 stop13h 25m
Avianca
Deal found 24/4C$ 1,044
Mon 16/119:45 p.m.
PTY
-
MAD
1 stop36h 40m
Turkish Airlines
Thu 26/1111:55 a.m.
MAD
-
PTY
1 stop37h 55m
Turkish Airlines
Deal found 29/4C$ 1,074
Sun 13/99:45 a.m.
PTY
-
MAD
1 stop16h 15m
United Airlines
Wed 30/910:50 a.m.
MAD
-
PTY
1 stop15h 41m
United Airlines
Deal found 29/4C$ 1,085
Mon 14/99:45 a.m.
PTY
-
MAD
1 stop16h 15m
United Airlines
Wed 4/1111:15 a.m.
MAD
-
PTY
2 stops33h 30m
United Airlines
Deal found 29/4C$ 1,086
Sun 13/93:30 p.m.
PTY
-
MAD
2 stops34h 30m
United Airlines
Mon 28/912:45 p.m.
MAD
-
PTY
2 stops37h 46m
United Airlines
Deal found 29/4C$ 1,089
Sat 17/109:45 a.m.
PTY
-
MAD
1 stop16h 15m
United Airlines
Thu 5/111:35 p.m.
MAD
-
PTY
2 stops36h 27m
United Airlines
Deal found 29/4C$ 1,090
Sun 13/99:45 a.m.
PTY
-
MAD
1 stop16h 15m
United Airlines
Sun 27/912:45 p.m.
MAD
-
PTY
2 stops37h 46m
United Airlines
Deal found 28/4C$ 1,091

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 29 April 2026.

Round-trip from

C$ 983

One-way from

C$ 792

Popular in

December

Cheapest in

February

Average price

C$ 1,087

Good round-trip deal

C$ 3,845 or less

Good one-way deal

C$ 933 or less
Avianca
  • Avianca
  • 8/7-17/9
  • 2 total stops
  • 33h 25m total
  • Panama City to Madrid
Search Deals
8/10
  • 8/10
  • 2 total stops
  • 36h 45m total
  • Panama City to Madrid
Search Deals
Highest demand for flights based on searches. 2% potential increase in price (C$ 44 potential increase over avg. RT price).
Search Deals
Cheapest flight prices on average. 1% potential price decrease (C$ 22 potential savings vs. average RT price).
Search Deals
Average for round-trip flights in April 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 29 April 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

Fri 18/9

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

1 stop16h 15m

Madrid Barajas

Sat 26/9

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

2 stops37h 46m

C$ 1,090

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Mon 14/9

3:30 p.m.-8:50 a.m.

3 stops34h 20m

Madrid Barajas

Wed 4/11

11:15 a.m.-7:38 p.m.

2 stops38h 23m

C$ 1,097

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Fri 10/7

10:55 p.m.-9:00 a.m.

1 stop27h 05m

Madrid Barajas

Sat 18/7

1:30 p.m.-4:04 a.m.

2 stops45h 34m

C$ 1,097

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Wed 14/10

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

1 stop16h 15m

Madrid Barajas

Sat 31/10

6:00 a.m.-8:02 p.m.

2 stops44h 02m

C$ 1,121

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Sat 17/10

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

2 stops39h 05m

Madrid Barajas

Sat 31/10

11:15 a.m.-8:02 p.m.

1 stop38h 47m

C$ 1,123

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Mon 19/10

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

1 stop16h 15m

Madrid Barajas

Thu 29/10

12:35 p.m.-7:02 p.m.

2 stops60h 27m

C$ 1,127
Quickest round-trip

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Wed 2/9

10:55 p.m.-6:50 a.m.

2 stops24h 55m

Madrid Barajas

Tue 15/9

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

1 stop15h 41m

C$ 1,134

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Mon 28/9

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

1 stop16h 15m

Madrid Barajas

Fri 16/10

11:15 a.m.-6:37 p.m.

2 stops38h 22m

C$ 1,160

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Mon 5/10

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

1 stop16h 15m

Madrid Barajas

Thu 29/10

12:35 p.m.-7:02 p.m.

2 stops60h 27m

C$ 1,164

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Wed 9/9

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

2 stops33h 35m

Madrid Barajas

Tue 22/9

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

1 stop15h 41m

C$ 1,229

Flights are sorted by cheapest round-trip flights first.

Deals found on 25/4

Showing 1-10 of 22 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?

The best time to book flights from Panama City to Madrid is 90 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, February is the cheapest month in which you can book a flight from Panama City to Madrid (average of C$ 996). Flying from Panama City to Madrid in December is currently the most expensive (average of C$ 1,289). 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 29 April 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.

How much does it cost to fly round-trip from Panama City to Madrid?

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 1 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 16h 15m. Fly via United Airlines to get the fastest option. The distance from Panama City to Madrid is about 8151 km.

  • 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: Air Europa (87%), Etihad Airways (87%), China Eastern (87%).

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

    On average you can expect to pay C$ 2,394 for a flight from Panama City to Madrid. The cheapest flight overall is C$ 933 while the most popular route, (Panama City Tocumen Intl - Madrid Barajas) is currently priced at C$ 1,210.

  • 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, February is the cheapest month in which you can book a flight from Panama City to Madrid (average of C$ 996). Flying from Panama City to Madrid in December is currently the most expensive (average of C$ 1,289). 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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