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Cheap flights from Madrid to Panama City from $345

This is the cheapest one-way flight price found by a momondo user in the last 72 hours by searching for a flight from Madrid to Panama City departing on 10/29. Fares may change, and may not be available for all flights or travel dates. Click the price to refresh the search for this deal.
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Cheap round-trip flights

Multiple Airlines Logo
8:30 pm - 7:55 pmMAD-PTY
29h 25m1 stop
Multiple Airlines Logo
10:20 pm - 9:10 amPTY-MAD
28h 50m1 stop
$654Multiple Airlines
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Sun, Feb 8 - Tue, Feb 17
United Airlines Logo
5:55 am - 2:45 pmMAD-PTY
38h 50m2 stops
United Airlines Logo
4:41 pm - 9:15 amPTY-MAD
34h 34m2 stops
$655United Airlines
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Sun, Jan 18 - Sat, Jan 31
Air Europa Logo
3:10 pm - 7:45 pmMAD-PTY
10h 35mnonstop
Air Europa Logo
9:30 pm - 1:05 pmPTY-MAD
9h 35mnonstop
$658Air Europa
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Mon, Jan 19 - Mon, Feb 2
Air Europa Logo
3:05 pm - 6:40 pmMAD-PTY
10h 35mnonstop
Air Europa Logo
9:30 pm - 1:05 pmPTY-MAD
9h 35mnonstop
$669Air Europa
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Fri, Oct 10 - Fri, Nov 7
Air France Logo
6:45 pm - 8:10 pmMAD-PTY
31h 25m1 stop
Air France Logo
3:37 pm - 9:15 amPTY-MAD
35h 38m1 stop
$708Air France
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Mon, Nov 24 - Mon, Dec 1
Air France Logo
10:00 am - 8:10 pmMAD-PTY
16h 10m1 stop
Air France Logo
10:20 pm - 11:05 pmPTY-MAD
18h 45m1 stop
$761Air France
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Fri, Nov 14 - Fri, Nov 14
KLM Logo
8:30 pm - 7:55 pmMAD-PTY
29h 25m1 stop
KLM Logo
10:05 pm - 10:15 amPTY-MAD
30h 10m1 stop
$765KLM
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Sun, Feb 15 - Sat, Feb 21
KLM Logo
6:00 am - 7:55 pmMAD-PTY
19h 55m1 stop
KLM Logo
10:05 pm - 11:25 pmPTY-MAD
19h 20m1 stop
$789KLM
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Wed, Feb 4 - Wed, Feb 25
Avianca Logo
4:20 pm - 12:40 amMAD-PTY
14h 20m1 stop
Avianca Logo
2:55 am - 11:20 pmPTY-MAD
14h 25m1 stop
$798Avianca
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Mon, Nov 24 - Sun, Nov 30
Avianca Logo
1:30 am - 9:10 pmMAD-PTY
26h 40m1 stop
Avianca Logo
2:55 pm - 11:20 pmPTY-MAD
26h 25m1 stop
$813Avianca
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Thu, Oct 9 - Fri, Nov 7

Air Europa flights from Madrid to Panama City

Our best Air Europa deals on Madrid to Panama City flight tickets
Air Europa
Jan 19
MAD3:10 pmMadrid Barajas
10h 35m
PTY7:45 pmPanama City Tocumen Intl
Feb 2
PTY9:30 pmPanama City Tocumen Intl
9h 35m
MAD1:05 pmMadrid Barajas
$658
Find similar
Air Europa
Oct 10
MAD3:05 pmMadrid Barajas
10h 35m
PTY6:40 pmPanama City Tocumen Intl
Nov 7
PTY9:30 pmPanama City Tocumen Intl
9h 35m
MAD1:05 pmMadrid Barajas
$669
Find similar
Air Europa
Oct 12
MAD3:05 pmMadrid Barajas
10h 35m
PTY6:40 pmPanama City Tocumen Intl
Nov 2
PTY9:30 pmPanama City Tocumen Intl
9h 35m
MAD1:05 pmMadrid Barajas
$682
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United Airlines flights from Madrid to Panama City

Our best United Airlines deals on Madrid to Panama City flight tickets
United Airlines
Jan 18
MAD5:55 amMadrid Barajas
38h 50m
2 stops
PTY2:45 pmPanama City Tocumen Intl
Jan 31
PTY4:41 pmPanama City Tocumen Intl
34h 34m
2 stops
MAD9:15 amMadrid Barajas
$655
Find similar
United Airlines
Jan 18
MAD5:55 amMadrid Barajas
38h 50m
2 stops
PTY2:45 pmPanama City Tocumen Intl
Feb 8
PTY11:55 pmPanama City Tocumen Intl
26h 05m
2 stops
MAD8:00 amMadrid Barajas
$656
Find similar
United Airlines
Feb 7
MAD6:00 amMadrid Barajas
38h 45m
2 stops
PTY2:45 pmPanama City Tocumen Intl
Feb 21
PTY8:55 amPanama City Tocumen Intl
29h 15m
2 stops
MAD8:10 pmMadrid Barajas
$664
Find similar

momondo Fare Finder

 
Customize your flight search to find flights from Madrid to Panama City 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, momondo users made 832,500 searches. Data last updated September 16, 2025.
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

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Sun 2/8

8:30 pm-7:55 pm

1 stop29h 25m

Panama City Tocumen Intl

Tue 2/17

10:20 pm-9:10 am

1 stop28h 50m

$654

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Sun 1/18

5:55 am-2:45 pm

2 stops38h 50m

Panama City Tocumen Intl

Sat 1/31

4:41 pm-9:15 am

2 stops34h 34m

$655

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Mon 1/19

3:10 pm-7:45 pm

Nonstop10h 35m

Panama City Tocumen Intl

Mon 2/2

9:30 pm-1:05 pm

Nonstop9h 35m

$658

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Fri 10/10

3:05 pm-6:40 pm

Nonstop10h 35m

Panama City Tocumen Intl

Fri 11/7

9:30 pm-1:05 pm

Nonstop9h 35m

$669

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Mon 11/24

6:45 pm-8:10 pm

1 stop31h 25m

Panama City Tocumen Intl

Mon 12/1

3:37 pm-9:15 am

1 stop35h 38m

$708

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Fri 11/14

10:00 am-8:10 pm

1 stop16h 10m

Panama City Tocumen Intl

Fri 11/14

10:20 pm-11:05 pm

1 stop18h 45m

$761

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Sun 2/15

8:30 pm-7:55 pm

1 stop29h 25m

Panama City Tocumen Intl

Sat 2/21

10:05 pm-10:15 am

1 stop30h 10m

$765

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Wed 2/4

6:00 am-7:55 pm

1 stop19h 55m

Panama City Tocumen Intl

Wed 2/25

10:05 pm-11:25 pm

1 stop19h 20m

$789

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Mon 11/24

4:20 pm-12:40 am

1 stop14h 20m

Panama City Tocumen Intl

Sun 11/30

2:55 am-11:20 pm

1 stop14h 25m

$798

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Thu 10/9

1:30 am-9:10 pm

1 stop26h 40m

Panama City Tocumen Intl

Fri 11/7

2:55 pm-11:20 pm

1 stop26h 25m

$813

Flights are sorted by cheapest round-trip flights first.

Showing 1-10 of 20 resultsSorted by cheapest first
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See travel insights to Panama City from

How to get the cheapest flight ticket from Madrid to Panama City

Look no further. We've gone through all the searches for this route on momondo so you have the important information and insights to find the cheapest flight ticket for your trip

What is the typical price of a round-trip flight between Madrid and Panama City?

What is the cheapest month to fly to Panama City?

In general, March is the cheapest month to fly from Madrid to Panama City. Due to it being the ‘off-season’ during this time, you can expect flight prices to be around $669. If you’re not able to fly to Panama City in March, then February is your next best option. Flight prices from Madrid to Panama City during February average around $697.

What is the cheapest day to depart on your flight to Panama City?

Our data shows that Wednesday is the least expensive day to fly to Panama City. Tickets to fly out on this day can be as low as $707. If your travel schedule is flexible, try to avoid departing on a Thursday because tickets tend to average around $1,146. These prices are subject to change though, so be sure to set up a Price Alert for flights to Panama City.

What is the cheapest time of day to depart on your flight to Panama City?

Our most recent data shows that the best time of day to fly to Panama City is in the morning. Flights from Madrid to Panama City during this time can be as low as $868. Try not to purchase tickets in the afternoon because they tend to be around $878. Of course, these prices can vary depending on the time of year and what airport you fly to.

What is the cheapest Madrid Barajas to Panama City Tocumen Intl flight route?

Fly from Madrid Barajas to Panama City Tocumen Intl for the best Madrid Barajas - Panama City Tocumen Intl flight prices

How far in advance should I book a flight to Panama City?

You are more likely to see cheaper flights to Panama City from Madrid when booking weeks ahead of your departure date. In general, you can expect to find flights to Panama City for around $807 when searching weeks out. However, flight prices might be lower outside of this timeframe. For example, people recently found flights to Panama City from Madrid for as low as $698 on momondo.

What cabin class options are available on Madrid Barajas to Panama City Tocumen Intl flights?

There are 3 cabin classes available to choose from on Madrid Barajas to Panama City Tocumen Intl flights. Cabin price and availability will vary by airline so perform a search above to find the right deals for you.

Can stopping save me money on Madrid to Panama City flights?

You could potentially save up to 22% on your flight if you consider stops on a Madrid to Panama City flight.

How have Madrid to Panama City flight prices changed over time?

As of September 2025, prices for Madrid to Panama City flights are approximately 11% cheaper when compared to flights at the same time last year.

When to book flights from Madrid to Panama City

Are you open to changing your travel dates? Check out the ideal times to fly from Madrid to Panama City according to our flight data. Find out which month and days have the cheapest flights.
Estimated round-trip price

Cheap Madrid to Panama City (MAD to PTY) flight deals and tips

Find info about flight duration, direct flights, and airports for your flight from Madrid to Panama City

Best Price Found

$378

Fastest flight time

10h 35m

Direct flights

Every day

Airports in Panama City

1 airport
The best one-way flight to Panama City from Madrid in the past 72 hours is $378. The best round-trip flight deal from Madrid to Panama City found on momondo in the last 72 hours is $677.
The fastest flight from Madrid to Panama City takes 10h 35m
Direct flights go from Madrid to Panama City every day.
There is 1 airport near Panama City: Panama City Tocumen Intl (PTY)
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  • How far is Madrid Barajas to Panama City Tocumen Intl by plane?

    The straight-line distance from Madrid Barajas to Panama City Tocumen Intl is 5069.0 mi. 10h 35m is a normal flight duration for this route.

  • When did momondo last update prices for flights from Madrid Barajas Airport to Panama City Tocumen Intl Airport?

    Prices for flights from Madrid Barajas Airport to Panama City Tocumen Intl Airport are refreshed on a daily basis.

  • How many operators does momondo search for flights from Madrid Barajas Airport to Panama City Tocumen Intl Airport?

  • How old do you have to be to fly from Madrid Barajas Airport to Panama City Tocumen Intl Airport?

    The minimum age a child must be to fly alone is five but airlines that offer an unaccompanied minor (UNMR) service will have their own age restrictions, including rules around flight length, timings, and stopovers. We always recommend checking with the individual airline you are booking with to travel from Madrid Barajas Airport to Panama City Tocumen Intl Airport.

  • What documentation or ID do you need to fly to Panama City Tocumen Intl Airport?

    The travel and health documents required for your trip to Panama City Tocumen Intl Airport can vary based on your itinerary and personal situation. As a rule, consider having multiple documents such as a national ID card or driver’s license, and a passport valid for six-months after you plan to arrive at Panama City Tocumen Intl Airport. We always recommend checking with your airline or a trusted third party such as IATA to get advice.

  • What is the most popular plane model from Madrid to Panama City?

  • What is the most popular airline from Madrid to Panama City?

Best airlines flying from Madrid to Panama City

Compare and see reviews for airlines that fly from Madrid to Panama City with momondo
Airline
Rating
Free Cancellation
Price
AviancaPriceFrom $545Free CancellationRating
6.7
2,435 reviews
Search Avianca flights
Air EuropaPriceFrom $630Free CancellationRating
7.0
556 reviews
Search Air Europa flights
IberiaPriceFrom $644Free CancellationRating
7.0
2,924 reviews
Search Iberia flights

  • Air Europa Flights From Madrid to Panama City

    Air Europa flies from Madrid to Panama City around 6 times per week, with 556 momondo users rating the airline 7.0/10. The cheapest Air Europa deal from Madrid to Panama City in the last 72 hours was $630 (round-trip), much lower than the average airfare cost of $867 for Air Europa flights on this route.

  • Iberia Flights From Madrid to Panama City

    Another popular option for Madrid to Panama City flights is Iberia (7.0/10, 2,924 ratings). Iberia flies from Madrid to Panama City around 3 times per week, with deals starting from $644 round-trip and rising to an average price of around $793.

Traveling to a place near Panama City?

Book flights to Panama City if you plan to visit one of these locations
San Blas

Why use momondo?

Why should I use momondo to find a flight deal from Madrid to Panama City?

momondo compares prices from hundreds of airlines and agents so you can find and book the best deal on flights from Madrid to Panama City. Millions of users trust and use momondo every year so you are in good hands.

Can I find flights from Madrid to Panama City with flexible booking policies on momondo?

All flight searches from Madrid to Panama City on momondo can be filtered to show those which offer flexible booking policies.

How can momondo help me find flights from Madrid to Panama City?

Once you have performed a search for Madrid to Panama City flights, momondo helps you find the right one by offering useful filters to narrow down your flight selection. Flights can be filtered by multiple factors such as airline, airport and price; but also by other criteria like aircraft type and payment method.

I’m not ready to book a flight from Madrid to Panama City right now. Can momondo alert me if prices change?

Price alerts on flights to Panama City from Madrid are quick and easy to set up on momondo. Simply perform a search and select the price alert feature. It is as simple as that.

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