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$502+ Cheap flights from Panama City (PTY) to Madrid, Spain (MAD)

This is the cheapest one-way flight price found by a Cheapflights user in the last 72 hours by searching for a flight departing on 10/22. Fares are subject to change and may not be available on all flights or dates of travel.
PTY — MAD
Oct 15 — Oct 221
Wed 10/15
Wed 10/22
1 adult, Economy
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Cheapflights Tip: The best prices from Panama City Tocumen Intl to Madrid Barajas are usually found in March or May, booked 77 days in advance, depart on a Tuesday or Thursday and return on a Wednesday

Cheap flight deals from Panama City to Madrid

Discover tips and strategies to find the most affordable flight options for your journey from Panama City (PTY) to Madrid (MAD). Learn about various techniques such as flexible date searches, comparing prices across and setting up price alerts. Use these methods to find the cheapest flights available for your travel needs. Data last updated September 15, 2025.

Round-trip from

$673
(Iberia)

One-way from

$502
(Kiwi.com)

Popular in

July

Cheapest in

March

Average price

$814

Good round-trip deal

$773 or less

Good one-way deal

$524 or less
From Panama City Tocumen Intl to Madrid Barajas
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One-way flight from Panama City Tocumen Intl to Madrid Barajas
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Highest demand for flights based on searches. 7% potential increase in price ($65 potential increase over avg. RT price).
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Cheapest flight prices on average. 1% potential price decrease ($10 potential savings vs. average RT price).
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Average for round-trip flights in September 2025
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Price to beat on a round-trip flight from Panama City Tocumen Intl to Madrid Barajas.
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Price to beat on a one-way flight from Panama City Tocumen Intl to Madrid Barajas.
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Find flight deals from Panama City to Madrid

Cheapest flights from Panama City to Madrid
Explore the most affordable flight options available from Panama City to Madrid. Find the lowest fares from popular airlines and budget airlines, with prices last updated on September 15, 2025.

This Iberia deal was found by Cheapflights users on 9/15. Clicking the “Pick Dates” button in this card will allow you to select your dates and further customize your flight criteria. From there, click “Find deals”, make sure Iberia is selected, and click “Compare selected” under the list of providers to see comparable flight deals.
Sat 11/86:20 pmPTY - MAD
Nonstop10h 05mIberia
Mon 11/2411:40 amMAD - PTY
Nonstop11h 05mIberia
Deal found 9/15$673
This FlightHub deal was found by Cheapflights users on 9/14. Clicking the “Pick Dates” button in this card will allow you to select your dates and further customize your flight criteria. From there, click “Find deals”, make sure FlightHub is selected, and click “Compare selected” under the list of providers to see comparable flight deals.
Tue 10/218:25 pmPTY - MAD
Nonstop9h 50mAir Europa
Fri 11/143:10 pmMAD - PTY
Nonstop10h 35mAir Europa
Deal found 9/14$677
This Air Europa deal was found by Cheapflights users on 9/15. Clicking the “Pick Dates” button in this card will allow you to select your dates and further customize your flight criteria. From there, click “Find deals”, make sure Air Europa is selected, and click “Compare selected” under the list of providers to see comparable flight deals.
Sun 11/29:30 pmPTY - MAD
Nonstop9h 35mAir Europa
Sun 11/163:10 pmMAD - PTY
Nonstop10h 35mAir Europa
Deal found 9/15$689
This Air Europa deal was found by Cheapflights users on 9/15. Clicking the “Pick Dates” button in this card will allow you to select your dates and further customize your flight criteria. From there, click “Find deals”, make sure Air Europa is selected, and click “Compare selected” under the list of providers to see comparable flight deals.
Mon 11/39:30 pmPTY - MAD
Nonstop9h 35mAir Europa
Sun 11/233:10 pmMAD - PTY
Nonstop10h 35mAir Europa
Deal found 9/15$690
This Iberia deal was found by Cheapflights users on 9/14. Clicking the “Pick Dates” button in this card will allow you to select your dates and further customize your flight criteria. From there, click “Find deals”, make sure Iberia is selected, and click “Compare selected” under the list of providers to see comparable flight deals.
Mon 11/106:20 pmPTY - MAD
Nonstop10h 05mIberia
Wed 11/1911:40 amMAD - PTY
Nonstop11h 05mIberia
Deal found 9/14$692
This Air Europa deal was found by Cheapflights users on 9/15. Clicking the “Pick Dates” button in this card will allow you to select your dates and further customize your flight criteria. From there, click “Find deals”, make sure Air Europa is selected, and click “Compare selected” under the list of providers to see comparable flight deals.
Wed 12/179:30 pmPTY - MAD
Nonstop9h 35mAir Europa
Mon 1/193:10 pmMAD - PTY
Nonstop10h 35mAir Europa
Deal found 9/15$694
This Avianca deal was found by Cheapflights users on 9/14. Clicking the “Pick Dates” button in this card will allow you to select your dates and further customize your flight criteria. From there, click “Find deals”, make sure Avianca is selected, and click “Compare selected” under the list of providers to see comparable flight deals.
Thu 11/132:55 amPTY - MAD
1 stop14h 25mAvianca
Sun 11/234:20 pmMAD - PTY
1 stop14h 40mAvianca
Deal found 9/14$698
This Avianca deal was found by Cheapflights users on 9/13. Clicking the “Pick Dates” button in this card will allow you to select your dates and further customize your flight criteria. From there, click “Find deals”, make sure Avianca is selected, and click “Compare selected” under the list of providers to see comparable flight deals.
Mon 11/102:55 amPTY - MAD
1 stop14h 25mAvianca
Thu 1/226:35 amMAD - PTY
1 stop24h 25mAvianca
Deal found 9/13$704
This FlightHub deal was found by Cheapflights users on 9/14. Clicking the “Pick Dates” button in this card will allow you to select your dates and further customize your flight criteria. From there, click “Find deals”, make sure FlightHub is selected, and click “Compare selected” under the list of providers to see comparable flight deals.
Wed 10/228:25 pmPTY - MAD
Nonstop9h 50mAir Europa
Fri 11/143:10 pmMAD - PTY
Nonstop10h 35mAir Europa
Deal found 9/14$710
This Kiwi.com deal was found by Cheapflights users on 9/14. Clicking the “Pick Dates” button in this card will allow you to select your dates and further customize your flight criteria. From there, click “Find deals”, make sure Kiwi.com is selected, and click “Compare selected” under the list of providers to see comparable flight deals.
Thu 10/302:55 amPTY - MAD
1 stop19h 40mAvianca
Sun 11/96:35 amMAD - PTY
1 stop16h 20mAvianca
Deal found 9/14$711
This KLM deal was found by Cheapflights users on 9/15. Clicking the “Pick Dates” button in this card will allow you to select your dates and further customize your flight criteria. From there, click “Find deals”, make sure KLM is selected, and click “Compare selected” under the list of providers to see comparable flight deals.
Wed 11/126:45 pmPTY - MAD
1 stop22h 40mMultiple Airlines
Tue 11/2510:00 amMAD - PTY
1 stop16h 10mMultiple Airlines
Deal found 9/15$717
This Air France deal was found by Cheapflights users on 9/15. Clicking the “Pick Dates” button in this card will allow you to select your dates and further customize your flight criteria. From there, click “Find deals”, make sure Air France is selected, and click “Compare selected” under the list of providers to see comparable flight deals.
Fri 11/1410:20 pmPTY - MAD
1 stop13h 20mAir France
Sun 11/2310:00 amMAD - PTY
1 stop16h 10mAir France
Deal found 9/15$718

Cheapflights Fare Finder

 
Customize your flight search to find flights from Panama City to Madrid 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, Cheapflights users made 2,558,603 searches. Data last updated September 15, 2025.
Use the filters below to find and compare flights from Panama City to Madrid that are best for you.

Fly from

Panama City

Fly to

Madrid

Route

Depart

Return

Price

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Wed 11/12

6:45 pm-11:25 pm

1 stop22h 40m

Madrid Barajas

Tue 11/25

10:00 am-8:10 pm

1 stop16h 10m

$717

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Fri 10/24

9:55 pm-11:25 am

1 stop30h 30m

Madrid Barajas

Tue 11/4

11:55 am-7:50 pm

1 stop37h 55m

$764

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Tue 11/4

9:30 pm-1:05 pm

Nonstop9h 35m

Madrid Barajas

Tue 11/18

3:10 pm-7:45 pm

Nonstop10h 35m

$780

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Sun 11/2

9:30 pm-1:05 pm

Nonstop9h 35m

Madrid Barajas

Thu 11/13

3:10 pm-7:45 pm

Nonstop10h 35m

$780

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Fri 11/14

9:30 pm-1:05 pm

Nonstop9h 35m

Madrid Barajas

Wed 1/21

3:10 pm-7:45 pm

Nonstop10h 35m

$780

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Tue 11/4

9:30 pm-1:05 pm

Nonstop9h 35m

Madrid Barajas

Sat 11/15

3:10 pm-7:45 pm

Nonstop10h 35m

$780

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Wed 2/4

9:45 pm-1:20 pm

1 stop33h 35m

Madrid Barajas

Wed 2/18

5:55 pm-5:05 pm

2 stops29h 10m

$783

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Mon 11/3

9:45 pm-1:20 pm

1 stop33h 35m

Madrid Barajas

Tue 11/18

5:55 pm-7:50 pm

1 stop31h 55m

$789

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Wed 10/29

9:45 pm-10:25 am

1 stop30h 40m

Madrid Barajas

Tue 11/18

5:55 pm-7:50 pm

1 stop31h 55m

$789

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

Sat 11/1

9:45 pm-4:25 pm

1 stop36h 40m

Madrid Barajas

Fri 11/14

5:55 pm-7:50 pm

1 stop31h 55m

$789

Flights are sorted by cheapest round-trip flights first.

Deals found on 9/14

Showing 1-10 of 20 results
1
2

The best insider tips for Panama City to Madrid flights

Snippets provided in this section are AI-generated based on a summarization of Cheapflights-commissioned articles. The articles are presented as-is, for general informational purposes only, and may not be up-to-date. The opinions contained in the articles are original to the author and reflect their authentic experience, which may vary significantly from the experience of others.
Cheapflights partnered with top experts to bring you the best recommendations for your Panama City to Madrid trip
Airports
PTY

For nighttime flights, bring snacks as most eateries close by 10 pm at PTY, ensuring you're not left hungry during your journey.

Read more about PTYby Taryn White
MAD

Upon arrival at MAD, rideshares like Uber and Cabify offer quick, affordable transport to the city center from dedicated pickup points.

Read more about MADby Lori Zaino
Our travel experts
Lori Zaino

Lori Zaino

Expert on MAD

Lori Zaino

Lori Zaino

US-born but now based in Spain, Lori's visited 60 countries---and written about them for publications like CNN, Forbes, The Points Guy, NBC, and TripAdvisor. She loves combining affordable adventures with luxury travel experiences and feels equally at home salsa dancing in Colombia, sipping wine in a French castle, or backpacking through Malaysia.

Read more
Taryn White

Taryn White

Expert on PTY

Taryn White

Taryn White

Taryn White is a freelance travel writer, digital creator, and travel advisor who has visited nearly 100 countries and all 50 states. She’s familiar with many airports and enjoys beach hopping, boutique hotels, spa experiences, and exploring local culture. Her work has appeared in Travel + Leisure, Condé Nast Traveler, National Geographic, Smithsonian Magazine, AFAR, and more.

Read more

Best time to book a flight from Panama City to Madrid

Have a flexible travel schedule? Discover the best time to fly to Madrid from Panama City with our price prediction graph.
Estimated round-trip price
Rates are based on past data. Find the cheapest month and day to book your flight based on your travel requirements, then search for cheap deals.

Cheapflights Insights

Everything you need to know about your flight from Panama City to Madrid

How far ahead should I book a flight from Panama City to Madrid?

Use this chart to determine the optimal time to book a round-trip flight from Panama City to Madrid. Price data was last updated on September 12, 2025.

The price you pay for your flight from Panama City to Madrid may vary depending on when you book. For the best chance of a lower fare, look to book 77 days in advance of your trip. Fares are likely to increase a fortnight or so before your departure date.

What is the cheapest month to book a flight from Panama City to Madrid?

Currently, November is the cheapest month in which you can book a flight from Panama City to Madrid (average of $543). Flying from Panama City to Madrid in June is currently the most expensive (average of $1,054). 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 PTY to MAD?

Find hourly flight availability from Panama City to Madrid. Discover flight options and departure times throughout the day, allowing you to choose a departure time that suits your schedule. Data last updated September 15, 2025.

When flying from Panama City to Madrid, the time of day you fly usually plays a role in the price. Save by searching for a flight in the morning, which can drop the price by up to 19% versus a flight at noon.

Reviews of airlines servicing Madrid

Get insights into the airlines that provide service to Madrid. Read reviews, discover amenities, and learn about the overall travel experience offered by airlines. Use this information to make informed decisions when choosing an airline for your flight to Madrid. Reviews last updated September 15, 2025.
Get a feel of what it's like to fly with KLM, Air France, and Air Europa from Panama City to Madrid by reading reviews from past customers. Users have also rated airlines in terms of entertainment options, comfort, food, crew/service, and boarding process.
KLM
7.8
Good
1,385 reviews

Entertainment

7.2

Food

7.3

Boarding

7.8

Crew

8.4

Overall

7.8

Comfort

7.7

Reviews

1 / 20
4.0
Okay

Mark,Sep 2025

AMS - BHX

Crew and snacks were good, boarding wasn't great as busses were used rather than boarding tunnels. Also endured a one hour delay.
KLM
7.8
Good
1,385 reviews
KLM
7.8
Good
1,385 reviews

Entertainment

7.2

Food

7.3

Boarding

7.8

Crew

8.4

Overall

7.8

Comfort

7.7

Reviews

1 / 20
4.0
Okay

Mark,Sep 2025

AMS - BHX

Crew and snacks were good, boarding wasn't great as busses were used rather than boarding tunnels. Also endured a one hour delay.
Air France
7.4
Good
1,469 reviews
KLM
7.8
Good
1,385 reviews

Entertainment

7.2

Food

7.3

Boarding

7.8

Crew

8.4

Overall

7.8

Comfort

7.7

Reviews

1 / 20
4.0
Okay

Mark,Sep 2025

AMS - BHX

Crew and snacks were good, boarding wasn't great as busses were used rather than boarding tunnels. Also endured a one hour delay.
Air Europa
7.0
Good
556 reviews
KLM
7.8
Good
1,385 reviews

Entertainment

7.2

Food

7.3

Boarding

7.8

Crew

8.4

Overall

7.8

Comfort

7.7

Reviews

1 / 20
4.0
Okay

Mark,Sep 2025

AMS - BHX

Crew and snacks were good, boarding wasn't great as busses were used rather than boarding tunnels. Also endured a one hour delay.
Iberia
7.0
Good
2,924 reviews
KLM
7.8
Good
1,385 reviews

Entertainment

7.2

Food

7.3

Boarding

7.8

Crew

8.4

Overall

7.8

Comfort

7.7

Reviews

1 / 20
4.0
Okay

Mark,Sep 2025

AMS - BHX

Crew and snacks were good, boarding wasn't great as busses were used rather than boarding tunnels. Also endured a one hour delay.
Avianca
6.7
Okay
2,435 reviews
KLM
7.8
Good
1,385 reviews

Entertainment

7.2

Food

7.3

Boarding

7.8

Crew

8.4

Overall

7.8

Comfort

7.7

Reviews

1 / 20
4.0
Okay

Mark,Sep 2025

AMS - BHX

Crew and snacks were good, boarding wasn't great as busses were used rather than boarding tunnels. Also endured a one hour delay.

Related info for your journey

Find useful and relevant information for your journey from Panama City to Madrid. Access travel guides, tips, and recommendations to enhance your travel experience. Get information about local attractions, weather, transportation options, and more.

  • What airports do I use to fly from Panama City to Madrid?

    Madrid Barajas is the airport most travelers will use when flying to Madrid from Panama City Tocumen Intl. Booking flights from Tocumen Intl (PTY) to Barajas (MAD) should be relatively easy as there are 7 daily flights to Madrid from 8 different airlines. 9h 35m is how long a flight from Panama City to Madrid Barajas will take if you book a nonstop flight.

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

    This flight path from Panama City Tocumen Intl to Madrid Barajas was viewed by 16 users in the past month. Keep an eye out for changes in search interest prior to high and low season.

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

    A quick flight from Panama City to Madrid can take about 9h 35m. Air Europa provides one of the quickest options available for as low as $689. The distance between Panama City and Madrid is about 5065 mi. This flight may include one or multiple stops.

  • What are the cheapest airlines flying from Panama City to Madrid round-trip?

    Avianca, at $543, was found to be the cheapest airline from Panama City to Madrid.Alternate airlines to your destination round-trip include Air Europa and Iberia. Avianca is 30% cheaper than the average price of flights available within the next 90 days to this destination.

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

    Looking for the most reliable airlines to get you to your destination on time? Our data shows these are most likely to get you from Panama City to Madrid on time: Qatar Airways (94%), Iberia (94%), EL AL (94%).

  • What are the cheapest flights from Panama City to Madrid?

    Looking for the cheapest flight from Panama City to Madrid? While on average our users pay $787, our data indicates the cheapest price to be $558. The most popular route (Panama City Tocumen Intl - Madrid Barajas), is priced around $614.

  • Can I find deals for flights from Panama City to Madrid that include hotel bookings?

    Yes. In addition to deals on Panama City to Madrid flights, Cheapflights offers vacation packages that include both flights and hotel.

  • How can I find direct flights from Panama City to Madrid?

    After entering your origin and destination, apply the non-stop filter on the search result page to find direct flights from Panama City to Madrid.

  • Can I find deals for business class flights from Panama City to Madrid?

    Yes. Cheapflights offers flight deals from Panama City to Madrid 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 Panama City to Madrid?

    Currently, November is the cheapest month in which you can book a flight from Panama City to Madrid (average of $543). Flying from Panama City to Madrid in June is currently the most expensive (average of $1,054). 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

Traveling to a place near Madrid?

Book flights to Madrid if you plan to visit one of these locations
Fuenlabrada
Getafe

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Top 8 airlines flying from Panama City to Madrid

Discover the top 8 airlines that operate flights from Panama City to Madrid. Compare their services, reliability, and customer satisfaction ratings to choose the airline that best suits your travel preferences and needs. Over the last 7 days, Cheapflights users made 2,558,603 searches. Data last updated September 15, 2025.
AirlineCheapestAverageFlexibilityOn-time
AviancaCheapest$604Average$782FlexibilityNo cancel feeOn-time71%
Air EuropaCheapest$662Average$792FlexibilityNo cancel feeOn-time83%
KLMCheapest$681Average$791FlexibilityNo cancel feeOn-time75%
IberiaCheapest$682Average$827FlexibilityNo cancel feeOn-time77%
Air FranceCheapest$695Average$779FlexibilityNo cancel feeOn-time77%
Turkish AirlinesCheapest$698Average$786FlexibilityNo cancel feeOn-time77%
United AirlinesCheapest$700Average$822FlexibilityNo cancel feeOn-time69%
Copa AirlinesCheapest$826Average$1,180FlexibilityNo cancel feeOn-time70%

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