Cheap flights from Madrid to Panama City from $352

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 3/30. 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

Enter your travel dates to find the best prices.
Avianca Logo
6:35 am - 2:00 pm
MAD
-
PTY
13h 25m
1 stop
Avianca Logo
5:50 pm - 11:20 pm
PTY
-
MAD
23h 30m
1 stop
$683Avianca
Mon, Mar 9 - Sat, Mar 21
Avianca Logo
10:50 am - 12:40 am
MAD
-
PTY
19h 50m
1 stop
Avianca Logo
2:55 am - 11:20 pm
PTY
-
MAD
14h 25m
1 stop
$698Avianca
Mon, Mar 9 - Wed, Mar 25
KLM Logo
6:00 am - 4:50 pm
MAD
-
PTY
17h 50m
1 stop
KLM Logo
6:50 pm - 4:25 pm
PTY
-
MAD
14h 35m
1 stop
$713KLM
Sun, May 3 - Fri, Jul 3
Avianca Logo
10:50 am - 12:40 am
MAD
-
PTY
19h 50m
1 stop
Avianca Logo
2:55 pm - 1:25 pm
PTY
-
MAD
16h 30m
1 stop
$715Avianca
Fri, Mar 20 - Mon, Mar 23
Avianca Logo
6:35 am - 4:55 pm
MAD
-
PTY
16h 20m
1 stop
Avianca Logo
2:55 pm - 11:20 pm
PTY
-
MAD
26h 25m
1 stop
$716Avianca
Sun, Mar 8 - Fri, Mar 27
Multiple Airlines Logo
10:25 am - 4:50 pm
MAD
-
PTY
37h 25m
1 stop
Multiple Airlines Logo
9:55 pm - 11:20 am
PTY
-
MAD
30h 25m
1 stop
$720Multiple Airlines
Thu, May 28 - Thu, Jun 4
Avianca Logo
6:35 am - 1:00 am
MAD
-
PTY
24h 25m
1 stop
Avianca Logo
2:55 pm - 11:20 pm
PTY
-
MAD
26h 25m
1 stop
$721Avianca
Sun, Mar 8 - Fri, Mar 27
Iberia Logo
3:55 pm - 8:00 pm
MAD
-
PTY
11h 05mnonstop
Iberia Logo
9:30 pm - 2:20 pm
PTY
-
MAD
9h 50mnonstop
$723Iberia
Sun, May 3 - Sun, May 10
Air Europa Logo
3:05 pm - 6:40 pm
MAD
-
PTY
10h 35mnonstop
Air Europa Logo
8:25 pm - 1:15 pm
PTY
-
MAD
9h 50mnonstop
$725Air Europa
Wed, Apr 22 - Mon, Apr 27
Avianca Logo
10:50 am - 1:00 am
MAD
-
PTY
20h 10m
1 stop
Avianca Logo
2:55 am - 11:20 pm
PTY
-
MAD
14h 25m
1 stop
$726Avianca
Thu, Mar 5 - Tue, Mar 17

Iberia flights from Madrid to Panama City

Our best Iberia deals on Madrid to Panama City flight tickets
Iberia
May 3
MAD3:55 pmMadrid Barajas
11h 05m
PTY8:00 pmPanama City Tocumen Intl
May 10
PTY9:30 pmPanama City Tocumen Intl
9h 50m
MAD2:20 pmMadrid Barajas
$723
Iberia
Apr 15
MAD3:55 pmMadrid Barajas
11h 05m
PTY8:00 pmPanama City Tocumen Intl
May 15
PTY9:30 pmPanama City Tocumen Intl
9h 50m
MAD2:20 pmMadrid Barajas
$758
Iberia
May 3
MAD3:55 pmMadrid Barajas
11h 05m
PTY8:00 pmPanama City Tocumen Intl
Jul 3
PTY9:05 pmPanama City Tocumen Intl
10h 05m
MAD2:10 pmMadrid Barajas
$761

KLM flights from Madrid to Panama City

Our best KLM deals on Madrid to Panama City flight tickets
KLM
May 3
MAD6:00 amMadrid Barajas
17h 50m
1 stop
PTY4:50 pmPanama City Tocumen Intl
Jul 3
PTY6:50 pmPanama City Tocumen Intl
14h 35m
1 stop
MAD4:25 pmMadrid Barajas
$713
KLM
May 22
MAD6:00 amMadrid Barajas
17h 50m
1 stop
PTY4:50 pmPanama City Tocumen Intl
May 28
PTY6:50 pmPanama City Tocumen Intl
31h 40m
1 stop
MAD9:30 amMadrid Barajas
$771
KLM
Jun 6
MAD10:25 amMadrid Barajas
37h 25m
1 stop
PTY4:50 pmPanama City Tocumen Intl
Jun 13
PTY6:50 pmPanama City Tocumen Intl
31h 40m
1 stop
MAD9:30 amMadrid Barajas
$774

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 January 29, 2026.
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

Mon 3/9

6:35 am-2:00 pm

1 stop13h 25m

Panama City Tocumen Intl

Sat 3/21

5:50 pm-11:20 pm

1 stop23h 30m

$683

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Mon 3/9

10:50 am-12:40 am

1 stop19h 50m

Panama City Tocumen Intl

Wed 3/25

2:55 am-11:20 pm

1 stop14h 25m

$698

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Sun 5/3

6:00 am-4:50 pm

1 stop17h 50m

Panama City Tocumen Intl

Fri 7/3

6:50 pm-4:25 pm

1 stop14h 35m

$713

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Fri 3/20

10:50 am-12:40 am

1 stop19h 50m

Panama City Tocumen Intl

Mon 3/23

2:55 pm-1:25 pm

1 stop16h 30m

$715

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Sun 3/8

6:35 am-4:55 pm

1 stop16h 20m

Panama City Tocumen Intl

Fri 3/27

2:55 pm-11:20 pm

1 stop26h 25m

$716

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Thu 5/28

10:25 am-4:50 pm

1 stop37h 25m

Panama City Tocumen Intl

Thu 6/4

9:55 pm-11:20 am

1 stop30h 25m

$720

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Sun 3/8

6:35 am-1:00 am

1 stop24h 25m

Panama City Tocumen Intl

Fri 3/27

2:55 pm-11:20 pm

1 stop26h 25m

$721

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Sun 5/3

3:55 pm-8:00 pm

Nonstop11h 05m

Panama City Tocumen Intl

Sun 5/10

9:30 pm-2:20 pm

Nonstop9h 50m

$723

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Wed 4/22

3:05 pm-6:40 pm

Nonstop10h 35m

Panama City Tocumen Intl

Mon 4/27

8:25 pm-1:15 pm

Nonstop9h 50m

$725

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

Thu 3/5

10:50 am-1:00 am

1 stop20h 10m

Panama City Tocumen Intl

Tue 3/17

2:55 am-11:20 pm

1 stop14h 25m

$726

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, May 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 $703. If you’re not able to fly to Panama City in May, then September is your next best option. Flight prices from Madrid to Panama City during September average around $704.

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 $727. 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 $892. Try not to purchase tickets in the morning because they tend to be around $1,016. 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 $819 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 $718 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?

No. A direct flight is the cheapest option for a flight between Madrid to Panama City.

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

As of January 2026, prices for Madrid to Panama City flights are approximately 24% more expensive 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

Fastest flight time

10h 35m

Direct flights

Every day

Airports in Panama City

1 airport
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 in Panama City. From Madrid there are direct flights to Panama City Tocumen Intl (PTY).
  • 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
2,492 reviews
Search Avianca flights
Air EuropaPriceFrom $623Free CancellationRating
6.9
587 reviews
Search Air Europa flights
IberiaPriceFrom $646Free CancellationRating
7.0
3,100 reviews
Search Iberia flights
  • Iberia Flights From Madrid to Panama City

    Iberia flies from Madrid to Panama City around 3 times per week, with 3,100 momondo users rating the airline 7.0/10. The cheapest Iberia deal from Madrid to Panama City in the last 72 hours was $646 (round-trip), much lower than the average airfare cost of $995 for Iberia flights on this route.

  • Air Europa Flights From Madrid to Panama City

    Another popular option for Madrid to Panama City flights is Air Europa (6.9/10, 587 ratings). Air Europa flies from Madrid to Panama City around 7 times per week, with deals starting from $623 round-trip and rising to an average price of around $884.

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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1 adult
Sat 2/28
Sat 3/7

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