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Cheap flights from Madrid, Spain to Panama City from C$ 574

MAD — PTY
17 Oct — 24 Oct1
1 adult
1 adult, Economy, 0 bags

Cheap flight deals from Madrid to Panama City

Enter your travel dates to find the best prices.

Cheapest flights from Madrid to Panama City

Thu 26/116:05 a.m. -
2 stops43h 57m
Tue 5/14:41 p.m. -
2 stops34h 49m
Deal found 16/9C$ 941
Fri 25/93:05 p.m. -
Nonstop10h 35m
Mon 12/108:25 p.m. -
Nonstop9h 50m
Deal found 17/9C$ 947
Tue 17/113:10 p.m. -
Nonstop10h 35m
Fri 27/119:30 p.m. -
Nonstop9h 35m
Deal found 15/9C$ 948
Fri 6/113:10 p.m. -
Nonstop10h 35m
Tue 17/119:30 p.m. -
Nonstop9h 35m
Deal found 13/9C$ 953
Fri 25/93:05 p.m. -
Nonstop10h 35m
Sat 10/108:25 p.m. -
Nonstop9h 50m
Deal found 14/9C$ 954
Mon 21/93:05 p.m. -
Nonstop10h 35m
Wed 7/108:25 p.m. -
Nonstop9h 50m
Deal found 16/9C$ 957
Wed 28/108:10 a.m. -
1 stop15h 05m
Wed 4/116:10 p.m. -
1 stop23h 15m
Deal found 13/9C$ 960
Tue 29/1211:15 a.m. -
1 stop23h 55m
Tue 5/14:41 p.m. -
2 stops34h 49m
Deal found 17/9C$ 961
Sat 21/1111:15 a.m. -
2 stops33h 30m
Tue 5/14:41 p.m. -
2 stops34h 49m
Deal found 16/9C$ 962
Mon 12/103:05 p.m. -
Nonstop10h 35m
Mon 19/108:25 p.m. -
Nonstop9h 50m
Deal found 14/9C$ 964
Wed 30/1211:15 a.m. -
1 stop23h 55m
Tue 26/110:00 a.m. -
1 stop17h 30m
Deal found 13/9C$ 967
Tue 17/1111:15 a.m. -
2 stops33h 30m
Thu 10/1210:00 a.m. -
2 stops24h 20m
Deal found 15/9C$ 969

Find flight deals from Madrid to Panama City

Round-trip from

C$ 941

One-way from

C$ 574

Popular in

December

Cheapest in

April

Average price

C$ 1,128

Good one-way deal

C$ 1,111 or less
United Airlines
  • United Airlines
  • 26/11-5/1
  • 4 total stops
  • 78h 46m total
  • Madrid to Panama City
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Avianca
  • Avianca
  • 25/1-31/12
  • 1 total stop
  • 13h 05m total
  • Madrid to Panama City
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Highest demand for flights based on searches. 13% potential increase in price (C$ 279 potential increase over avg. RT price).
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Cheapest flight prices on average. 2% potential price decrease (C$ 43 potential savings vs. average RT price).
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Average for round-trip flights in September 2026
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Price to beat on a one-way flight from Madrid Barajas to Panama City Tocumen Intl.
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Cheapflights Fare Finder

 
Use the filters below to find and compare flights from Madrid to Panama City that are best for you.

Fly from

Fly to

Route

Depart

Return

Price

Cheapest round-trip
Quickest round-trip

MadridPanama City

MAD Madrid Barajas - PTY Panama City Tocumen Intl

MADPTY

Madrid Barajas

Fri 25/9

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

Nonstop10h 35m

Panama City Tocumen Intl

Wed 31/12

12:00 a.m.-6:00 a.m.

Nonstop0h 00m

C$ 670

MadridPanama City

MAD Madrid Barajas - PTY Panama City Tocumen Intl

MADPTY

Madrid Barajas

Wed 17/2

12:00 p.m.-5:05 p.m.

Nonstop11h 05m

Panama City Tocumen Intl

Wed 31/12

12:00 a.m.-6:00 a.m.

Nonstop0h 00m

C$ 874

MadridPanama City

MAD Madrid Barajas - PTY Panama City Tocumen Intl

MADPTY

Madrid Barajas

Fri 25/9

3:55 p.m.-7:35 p.m.

Nonstop10h 40m

Panama City Tocumen Intl

Wed 31/12

12:00 a.m.-6:00 a.m.

Nonstop0h 00m

C$ 880

MadridPanama City

MAD Madrid Barajas - PTY Panama City Tocumen Intl

MADPTY

Madrid Barajas

Thu 5/11

3:10 p.m.-7:45 p.m.

Nonstop10h 35m

Panama City Tocumen Intl

Wed 31/12

12:00 a.m.-6:00 a.m.

Nonstop0h 00m

C$ 911

MadridPanama City

MAD Madrid Barajas - PTY Panama City Tocumen Intl

MADPTY

Madrid Barajas

Tue 13/10

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

Nonstop10h 35m

Panama City Tocumen Intl

Wed 31/12

12:00 a.m.-6:00 a.m.

Nonstop0h 00m

C$ 911

MadridPanama City

MAD Madrid Barajas - PTY Panama City Tocumen Intl

MADPTY

Madrid Barajas

Mon 26/10

3:10 p.m.-7:45 p.m.

Nonstop10h 35m

Panama City Tocumen Intl

Wed 31/12

12:00 a.m.-6:00 a.m.

Nonstop0h 00m

C$ 913

MadridPanama City

MAD Madrid Barajas - PTY Panama City Tocumen Intl

MADPTY

Madrid Barajas

Mon 1/2

3:10 p.m.-7:45 p.m.

Nonstop10h 35m

Panama City Tocumen Intl

Wed 31/12

12:00 a.m.-6:00 a.m.

Nonstop0h 00m

C$ 918

MadridPanama City

MAD Madrid Barajas - PTY Panama City Tocumen Intl

MADPTY

Madrid Barajas

Tue 2/2

3:10 p.m.-7:45 p.m.

Nonstop10h 35m

Panama City Tocumen Intl

Wed 31/12

12:00 a.m.-6:00 a.m.

Nonstop0h 00m

C$ 919

MadridPanama City

MAD Madrid Barajas - PTY Panama City Tocumen Intl

MADPTY

Madrid Barajas

Mon 1/2

3:10 p.m.-7:45 p.m.

Nonstop10h 35m

Panama City Tocumen Intl

Wed 10/2

9:30 p.m.-1:05 p.m.

Nonstop9h 35m

C$ 1,004

MadridPanama City

MAD Madrid Barajas - PTY Panama City Tocumen Intl

MADPTY

Madrid Barajas

Sat 5/12

3:10 p.m.-7:45 p.m.

Nonstop10h 35m

Panama City Tocumen Intl

Sat 6/2

9:30 p.m.-1:05 p.m.

Nonstop9h 35m

C$ 1,055

Flights are sorted by cheapest round-trip flights first.

Deals found on 16/9

Showing 1-10 of 20 resultsSorted by cheapest first
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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 round-trip price

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?

To ensure you get the cheapest price possible for a flight from Madrid to Panama City, you should look to book at least 46 days in advance of your intended travel date. The price of your flight may increase if you delay and leave booking until a week or so before departure.

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 C$ 1,028). Flying from Madrid to Panama City in December is currently the most expensive (average of C$ 1,565). 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?

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

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

Airfare is below average for this route at the moment.

Madrid to Panama City flights typically cost between C$ 1,023 and C$ 1,262 in November.
The cheapest round-trip price found within the last 5 days was C$ 941 on United Airlines (26 Nov-5 Jan).

Related info for your journey

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

    Flights from Madrid Barajas to Panama City Tocumen Intl have been viewed 1 times in the past calendar month.

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

    A quick flight from Madrid to Panama City can take about 10h 35m. Air Europa provides one of the quickest options available for as low as C$ 1,004. The distance between Madrid and Panama City is about 8151 km. When browsing for deals, the options you’ll see will be for both direct flights and flights with stops.

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

    No one likes to see their flight delayed. When booking a flight from Madrid to Panama City consider choosing Air Europa (75%), Etihad Airways (75%) or China Eastern (75%) as they are the most reliable in getting you off to your destination on time.

  • 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 vacation 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 C$ 1,028). Flying from Madrid to Panama City in December is currently the most expensive (average of C$ 1,565). 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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