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Cheap flights from Madrid, Spain to Panama City from C$ 613

MAD — PTY
29 Nov — 6 Dec1
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

Sat 21/117:00 a.m. -
3 stops28h 48m
Mon 7/1210:30 p.m. -
1 stop13h 15m
Deal found 27/10C$ 1,013
Sat 21/117:00 a.m. -
3 stops28h 48m
Tue 8/129:55 p.m. -
1 stop15h 40m
Deal found 27/10C$ 1,101
Sat 21/117:00 a.m. -
3 stops28h 48m
Sun 29/114:18 p.m. -
2 stops17h 02m
Deal found 26/10C$ 1,110
Sat 21/117:00 a.m. -
3 stops28h 48m
Fri 27/1110:30 p.m. -
1 stop18h 35m
Deal found 27/10C$ 1,130
Sat 21/117:00 a.m. -
3 stops28h 48m
Tue 8/126:45 p.m. -
2 stops17h 00m
Deal found 27/10C$ 1,144
Wed 18/118:30 p.m. -
1 stop26h 00m
Sun 6/1210:30 p.m. -
1 stop13h 15m
Deal found 28/10C$ 1,207
Wed 18/118:30 p.m. -
1 stop26h 00m
Sun 22/1110:30 p.m. -
1 stop18h 35m
Deal found 26/10C$ 1,227
Wed 9/123:10 p.m. -
Nonstop10h 35m
Sun 7/29:30 p.m. -
Nonstop9h 35m
Deal found 26/10C$ 1,232
Tue 17/112:20 p.m. -
1 stop35h 45m
Wed 2/1210:00 p.m. -
1 stop30h 25m
Deal found 27/10C$ 1,241

Find flight deals from Madrid to Panama City

Round-trip from

C$ 954

One-way from

C$ 613

Popular in

December

Cheapest in

April

Average price

C$ 1,110

Good one-way deal

C$ 1,110 or less
Avianca
  • Avianca
  • 25/1-7/2
  • 2 total stops
  • 29h 55m total
  • Madrid to Panama City
Search Deals
Avianca
  • Avianca
  • 4/3-31/12
  • 2 total stops
  • 28h 45m total
  • Madrid to Panama City
Search Deals
Highest demand for flights based on searches. 12% potential increase in price (C$ 243 potential increase over avg. RT price).
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Cheapest flight prices on average. 3% potential price decrease (C$ 62 potential savings vs. average RT price).
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Average for round-trip flights in October 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

MadridPanama City

MAD Madrid Barajas - PTY Panama City Tocumen Intl

MADPTY

Madrid Barajas

Fri 26/2

7:05 a.m.-5:15 p.m.

2 stops40h 10m

Panama City Tocumen Intl

Wed 31/12

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

Nonstop0h 00m

C$ 656

MadridPanama City

MAD Madrid Barajas - PTY Panama City Tocumen Intl

MADPTY

Madrid Barajas

Thu 25/2

2:55 p.m.-3:15 p.m.

2 stops54h 20m

Panama City Tocumen Intl

Wed 31/12

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

Nonstop0h 00m

C$ 709

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$ 845
Quickest round-trip

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$ 880

MadridPanama City

MAD Madrid Barajas - PTY Panama City Tocumen Intl

MADPTY

Madrid Barajas

Thu 3/12

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$ 880

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$ 885

MadridPanama City

MAD Madrid Barajas - PTY Panama City Tocumen Intl

MADPTY

Madrid Barajas

Fri 26/3

10:25 a.m.-1:20 a.m.

2 stops20h 55m

Panama City Tocumen Intl

Sat 3/4

4:25 a.m.-12:20 a.m.

1 stop12h 55m

C$ 1,027

MadridPanama City

MAD Madrid Barajas - PTY Panama City Tocumen Intl

MADPTY

Madrid Barajas

Mon 30/11

8:30 p.m.-4:30 p.m.

1 stop26h 00m

Panama City Tocumen Intl

Wed 31/12

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

Nonstop0h 00m

C$ 1,098

MadridPanama City

MAD Madrid Barajas - PTY Panama City Tocumen Intl

MADPTY

Madrid Barajas

Sat 21/11

7:00 a.m.-5:48 a.m.

3 stops28h 48m

Panama City Tocumen Intl

Sun 29/11

4:18 p.m.-3:20 p.m.

2 stops17h 02m

C$ 1,110

MadridPanama City

MAD Madrid Barajas - PTY Panama City Tocumen Intl

MADPTY

Madrid Barajas

Wed 10/3

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

Nonstop11h 05m

Panama City Tocumen Intl

Fri 2/4

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

Nonstop9h 50m

C$ 1,175

Flights are sorted by cheapest round-trip flights first.

Deals found on 27/10

Showing 1-10 of 22 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 76 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$ 1,021). Flying from Madrid to Panama City in December is currently the most expensive (average of C$ 1,698). 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$ 1,078 and C$ 3,148 in January.
The cheapest round-trip price found within the last 5 days was C$ 954 on Avianca (25 Jan-7 Feb).

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. Avianca provides one of the quickest options available for as low as C$ 1,274. 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 (74%), Etihad Airways (74%) or China Eastern (74%) 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$ 1,021). Flying from Madrid to Panama City in December is currently the most expensive (average of C$ 1,698). 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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