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Cheap flights from Madrid to Panama City from $428

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 11/5. 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

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Iberia Logo
11:40 am - 4:45 pmMAD-PTY
11h 05mnonstop
Iberia Logo
5:35 pm - 10:25 amPTY-MAD
9h 50mnonstop
$708Iberia
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Wed, Mar 25 - Tue, Apr 7
Air Europa Logo
3:10 pm - 7:45 pmMAD-PTY
10h 35mnonstop
Air Europa Logo
9:30 pm - 1:05 pmPTY-MAD
9h 35mnonstop
$731Air Europa
Find Deal
Thu, Mar 5 - Mon, Mar 9
Air Europa Logo
3:10 pm - 7:45 pmMAD-PTY
10h 35mnonstop
Air Europa Logo
9:30 pm - 1:05 pmPTY-MAD
9h 35mnonstop
$743Air Europa
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Tue, Feb 17 - Mon, Feb 23
Delta Logo
10:00 am - 2:12 pmMAD-PTY
58h 12m2 stops
Delta Logo
3:37 pm - 9:15 amPTY-MAD
35h 38m1 stop
$756Delta
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Thu, Nov 13 - Wed, Nov 26
Delta Logo
10:00 am - 2:21 pmMAD-PTY
34h 21m2 stops
Delta Logo
3:27 pm - 8:00 amPTY-MAD
58h 33m2 stops
$759Delta
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Mon, Dec 8 - Fri, Jan 16
Iberia Logo
11:40 am - 4:45 pmMAD-PTY
11h 05mnonstop
Iberia Logo
6:20 pm - 10:25 amPTY-MAD
10h 05mnonstop
$769Iberia
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Mon, Nov 24 - Mon, Dec 1
KLM Logo
6:00 am - 4:30 pmMAD-PTY
16h 30m1 stop
KLM Logo
10:05 pm - 10:15 amPTY-MAD
30h 10m1 stop
$780KLM
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Fri, Feb 6 - Mon, Feb 16
Avianca Logo
6:35 am - 2:00 pmMAD-PTY
13h 25m1 stop
Avianca Logo
9:45 am - 4:35 amPTY-MAD
12h 50m1 stop
$806Avianca
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Mon, Nov 10 - Sat, Nov 22
KLM Logo
8:30 pm - 4:30 pmMAD-PTY
26h 00m1 stop
KLM Logo
6:45 pm - 4:05 pmPTY-MAD
15h 20m1 stop
$823KLM
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Tue, Nov 11 - Wed, Nov 19
Avianca Logo
6:35 am - 4:55 pmMAD-PTY
16h 20m1 stop
Avianca Logo
2:55 pm - 1:25 pmPTY-MAD
16h 30m1 stop
$833Avianca
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Tue, Oct 28 - Sat, Nov 8

Iberia flights from Madrid to Panama City

Our best Iberia deals on Madrid to Panama City flight tickets
Iberia
Mar 25
MAD11:40 amMadrid Barajas
11h 05m
PTY4:45 pmPanama City Tocumen Intl
Apr 7
PTY5:35 pmPanama City Tocumen Intl
9h 50m
MAD10:25 amMadrid Barajas
$708
Find similar
Iberia
Nov 24
MAD11:40 amMadrid Barajas
11h 05m
PTY4:45 pmPanama City Tocumen Intl
Dec 1
PTY6:20 pmPanama City Tocumen Intl
10h 05m
MAD10:25 amMadrid Barajas
$769
Find similar
Iberia
Oct 18
MAD12:00 pmMadrid Barajas
10h 40m
PTY3:40 pmPanama City Tocumen Intl
Oct 25
PTY5:10 pmPanama City Tocumen Intl
10h 05m
MAD10:15 amMadrid Barajas
$787
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Delta flights from Madrid to Panama City

Our best Delta deals on Madrid to Panama City flight tickets
Delta
Nov 13
MAD10:00 amMadrid Barajas
58h 12m
2 stops
PTY2:12 pmPanama City Tocumen Intl
Nov 26
PTY3:37 pmPanama City Tocumen Intl
35h 38m
1 stop
MAD9:15 amMadrid Barajas
$756
Find similar
Delta
Dec 8
MAD10:00 amMadrid Barajas
34h 21m
2 stops
PTY2:21 pmPanama City Tocumen Intl
Jan 16
PTY3:27 pmPanama City Tocumen Intl
58h 33m
2 stops
MAD8:00 amMadrid Barajas
$759
Find similar
Delta
Oct 28
MAD6:00 amMadrid Barajas
36h 56m
2 stops
PTY12:56 pmPanama City Tocumen Intl
Nov 7
PTY3:21 pmPanama City Tocumen Intl
35h 54m
1 stop
MAD9:15 amMadrid Barajas
$800
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 October 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

Wed 3/25

11:40 am-4:45 pm

Nonstop11h 05m

Panama City Tocumen Intl

Tue 4/7

5:35 pm-10:25 am

Nonstop9h 50m

$708

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Thu 3/5

3:10 pm-7:45 pm

Nonstop10h 35m

Panama City Tocumen Intl

Mon 3/9

9:30 pm-1:05 pm

Nonstop9h 35m

$731

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Tue 2/17

3:10 pm-7:45 pm

Nonstop10h 35m

Panama City Tocumen Intl

Mon 2/23

9:30 pm-1:05 pm

Nonstop9h 35m

$743

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Thu 11/13

10:00 am-2:12 pm

2 stops58h 12m

Panama City Tocumen Intl

Wed 11/26

3:37 pm-9:15 am

1 stop35h 38m

$756

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Mon 12/8

10:00 am-2:21 pm

2 stops34h 21m

Panama City Tocumen Intl

Fri 1/16

3:27 pm-8:00 am

2 stops58h 33m

$759

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Mon 11/24

11:40 am-4:45 pm

Nonstop11h 05m

Panama City Tocumen Intl

Mon 12/1

6:20 pm-10:25 am

Nonstop10h 05m

$769

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Fri 2/6

6:00 am-4:30 pm

1 stop16h 30m

Panama City Tocumen Intl

Mon 2/16

10:05 pm-10:15 am

1 stop30h 10m

$780

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Mon 11/10

6:35 am-2:00 pm

1 stop13h 25m

Panama City Tocumen Intl

Sat 11/22

9:45 am-4:35 am

1 stop12h 50m

$806

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Tue 11/11

8:30 pm-4:30 pm

1 stop26h 00m

Panama City Tocumen Intl

Wed 11/19

6:45 pm-4:05 pm

1 stop15h 20m

$823

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Tue 10/28

6:35 am-4:55 pm

1 stop16h 20m

Panama City Tocumen Intl

Sat 11/8

2:55 pm-1:25 pm

1 stop16h 30m

$833

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 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 $673. 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 $696.

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 $699. If your travel schedule is flexible, try to avoid departing on a Thursday because tickets tend to average around $1,030. 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 afternoon. Flights from Madrid to Panama City during this time can be as low as $884. Try not to purchase tickets in the morning because they tend to be around $909. 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 $809 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 $711 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 11% 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 October 2025, prices for Madrid to Panama City flights are approximately 4% 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

$346

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 $346. The best round-trip flight deal from Madrid to Panama City found on momondo in the last 72 hours is $638.
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)
Search flight deals

  • 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
6.6
2,452 reviews
Search Avianca flights
Air EuropaPriceFrom $630Free CancellationRating
7.0
568 reviews
Search Air Europa flights
IberiaPriceFrom $644Free CancellationRating
7.0
2,994 reviews
Search Iberia flights

  • Air Europa Flights From Madrid to Panama City

    Air Europa flies from Madrid to Panama City around 2 times per week, with 568 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 $875 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, 2,994 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 $862.

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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