Madrid

$466+ 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 10/20. Fares are subject to change and may not be available on all flights or dates of travel.
PTY — MAD
août 21 — août 281
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Cheapflights Tip: The best prices from Panama City Tocumen Intl to Madrid Barajas are usually found in March or February, booked 77 days in advance, depart on a Tuesday or Wednesday 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 août 16, 2025.

Round-trip from

$716
(CheapOair)

One-way from

$466
(Mytrip)

Popular in

July

Cheapest in

March

Average price

$864

Good round-trip deal

$824 or less

Good one-way deal

$624 or less
From Panama City Tocumen Intl to Madrid Barajas
One-way flight from Panama City Tocumen Intl to Madrid Barajas
Highest demand for flights based on searches. 8% potential increase in price ($69 potential increase over avg. RT price).
Cheapest flight prices on average. 1% potential price decrease ($10 potential savings vs. average RT price).
Average for round-trip flights in August 2025
Price to beat on a round-trip flight from Panama City Tocumen Intl to Madrid Barajas.
Price to beat on a one-way flight from Panama City Tocumen Intl to Madrid Barajas.

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 août 16, 2025.

This CheapOair deal was found by Cheapflights users on 8/13. 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 CheapOair is selected, and click “Compare selected” under the list of providers to see comparable flight deals.
ven. 11/149:30 pmPTY - MAD
Nonstop9h 35mAir Europa
dim. 11/233:10 pmMAD - PTY
Nonstop10h 35mAir Europa
Deal found 8/13$716
This KLM deal was found by Cheapflights users on 8/14. 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 KLM is selected, and click “Compare selected” under the list of providers to see comparable flight deals.
jeu. 8/146:50 pmPTY - MAD
1 stop17h 40mKLM
dim. 9/76:00 amMAD - PTY
1 stop17h 50mKLM
Deal found 8/14$717
This SmartFares deal was found by Cheapflights users on 8/14. 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 SmartFares is selected, and click “Compare selected” under the list of providers to see comparable flight deals.
mar. 10/148:25 pmPTY - MAD
Nonstop9h 50mAir Europa
mer. 10/223:05 pmMAD - PTY
Nonstop10h 35mAir Europa
Deal found 8/14$718
This CheapOair deal was found by Cheapflights users on 8/15. 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 CheapOair is selected, and click “Compare selected” under the list of providers to see comparable flight deals.
lun. 11/39:45 pmPTY - MAD
1 stop33h 35mTurkish Airlines
ven. 11/1411:55 amMAD - PTY
1 stop37h 55mTurkish Airlines
Deal found 8/15$719
This Avianca deal was found by Cheapflights users on 8/14. 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.
ven. 10/312:55 amPTY - MAD
1 stop14h 25mAvianca
mer. 11/51:20 amMAD - PTY
1 stop13h 30mAvianca
Deal found 8/14$720
This Avianca deal was found by Cheapflights users on 8/15. 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 Avianca is selected, and click “Compare selected” under the list of providers to see comparable flight deals.
lun. 9/153:25 amPTY - MAD
1 stop45h 15mAvianca
lun. 9/291:30 amMAD - PTY
1 stop22h 00mAvianca
Deal found 8/15$721
This Gotogate deal was found by Cheapflights users on 8/16. 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 Gotogate is selected, and click “Compare selected” under the list of providers to see comparable flight deals.
sam. 9/278:25 pmPTY - MAD
Nonstop9h 50mAir Europa
mar. 10/73:05 pmMAD - PTY
Nonstop10h 35mAir Europa
Deal found 8/16$723
This Air Europa deal was found by Cheapflights users on 8/14. 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 Air Europa is selected, and click “Compare selected” under the list of providers to see comparable flight deals.
mar. 9/308:25 pmPTY - MAD
Nonstop9h 50mAir Europa
mar. 10/143:05 pmMAD - PTY
Nonstop10h 35mAir Europa
Deal found 8/14$726
This Avianca deal was found by Cheapflights users on 8/15. 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 Avianca is selected, and click “Compare selected” under the list of providers to see comparable flight deals.
ven. 9/263:25 amPTY - MAD
1 stop13h 05mAvianca
dim. 10/51:10 pmMAD - PTY
1 stop15h 00mAvianca
Deal found 8/15$728
This Gotogate deal was found by Cheapflights users on 8/14. 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 Gotogate is selected, and click “Compare selected” under the list of providers to see comparable flight deals.
sam. 9/278:25 pmPTY - MAD
Nonstop9h 50mAir Europa
lun. 10/63:05 pmMAD - PTY
Nonstop10h 35mAir Europa
Deal found 8/14$730
This Air Europa deal was found by Cheapflights users on 8/15. 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.
mar. 10/148:25 pmPTY - MAD
Nonstop9h 50mAir Europa
ven. 10/313:10 pmMAD - PTY
Nonstop10h 35mAir Europa
Deal found 8/15$734

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 août 16, 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

lun. 2/9

6:20 pm-10:25 am

Nonstop10h 05m

Madrid Barajas

lun. 2/16

11:40 am-4:45 pm

Nonstop11h 05m

$716

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

mer. 2/11

10:05 pm-11:25 pm

1 stop19h 20m

Madrid Barajas

mer. 2/25

11:00 am-7:55 pm

1 stop14h 55m

$717

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

ven. 10/24

9:55 pm-11:25 am

1 stop30h 30m

Madrid Barajas

mar. 11/11

5:55 pm-7:50 pm

1 stop31h 55m

$719

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

dim. 9/28

8:25 pm-1:15 pm

Nonstop9h 50m

Madrid Barajas

lun. 10/6

3:05 pm-6:40 pm

Nonstop10h 35m

$721

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

mar. 9/30

8:25 pm-1:15 pm

Nonstop9h 50m

Madrid Barajas

lun. 10/6

3:05 pm-6:40 pm

Nonstop10h 35m

$721

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

dim. 9/28

8:25 pm-1:15 pm

Nonstop9h 50m

Madrid Barajas

mar. 10/7

3:05 pm-6:40 pm

Nonstop10h 35m

$721

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

mar. 9/30

8:25 pm-1:15 pm

Nonstop9h 50m

Madrid Barajas

mar. 10/7

3:05 pm-6:40 pm

Nonstop10h 35m

$721

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

lun. 9/29

8:25 pm-1:15 pm

Nonstop9h 50m

Madrid Barajas

mer. 10/8

3:05 pm-6:40 pm

Nonstop10h 35m

$721

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

dim. 9/28

8:25 pm-1:15 pm

Nonstop9h 50m

Madrid Barajas

mer. 10/8

3:05 pm-6:40 pm

Nonstop10h 35m

$721

Panama CityMadrid

PTY - MAD

PTYMAD

Panama City Tocumen Intl

lun. 9/29

8:25 pm-1:15 pm

Nonstop9h 50m

Madrid Barajas

mar. 10/7

3:05 pm-6:40 pm

Nonstop10h 35m

$721

Flights are sorted by cheapest round-trip flights first.

Deals found on 8/14

Showing 1-10 of 20 results
1
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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 August 8, 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 $1,053). 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 août 16, 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.

Weekly flight availability from Panama City to Madrid

Explore weekly flight availability from Panama City to Madrid. Discover flights operating on different days of the week, giving you the flexibility to choose a travel day that best fits your plans. Compare info to find the most convenient option for your journey. Data last updated août 16, 2025.

The most flights from PTY to MAD are scheduled on a Thursday (10 on average). You will have fewer flight options on Tuesday, which is when the least amount of flights are scheduled (5 on average).

How much does it cost to fly round-trip from Panama City to Madrid?

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 août 16, 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.

Boarding

7.8

Comfort

7.7

Entertainment

7.1

Food

7.3

Overall

7.8

Crew

8.4

Reviews

1 / 20
4.0
Okay

Anonymous,Jun 2025

AMS - BOS

A two and half hour delay caused havoc with all connections. Otherwise on board service was great.

Boarding

7.8

Comfort

7.7

Entertainment

7.1

Food

7.3

Overall

7.8

Crew

8.4

Reviews

1 / 20
4.0
Okay

Anonymous,Jun 2025

AMS - BOS

A two and half hour delay caused havoc with all connections. Otherwise on board service was great.

Boarding

7.8

Comfort

7.7

Entertainment

7.1

Food

7.3

Overall

7.8

Crew

8.4

Reviews

1 / 20
4.0
Okay

Anonymous,Jun 2025

AMS - BOS

A two and half hour delay caused havoc with all connections. Otherwise on board service was great.

Boarding

7.8

Comfort

7.7

Entertainment

7.1

Food

7.3

Overall

7.8

Crew

8.4

Reviews

1 / 20
4.0
Okay

Anonymous,Jun 2025

AMS - BOS

A two and half hour delay caused havoc with all connections. Otherwise on board service was great.

Boarding

7.8

Comfort

7.7

Entertainment

7.1

Food

7.3

Overall

7.8

Crew

8.4

Reviews

1 / 20
4.0
Okay

Anonymous,Jun 2025

AMS - BOS

A two and half hour delay caused havoc with all connections. Otherwise on board service was great.

Boarding

7.8

Comfort

7.7

Entertainment

7.1

Food

7.3

Overall

7.8

Crew

8.4

Reviews

1 / 20
4.0
Okay

Anonymous,Jun 2025

AMS - BOS

A two and half hour delay caused havoc with all connections. Otherwise on board service was great.

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?

  • 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 29% 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 (100%), Hainan Airlines (100%), EL AL (97%).

  • 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 $1,507, our data indicates the cheapest price to be $508. The most popular route (Panama City Tocumen Intl - Madrid Barajas), is priced around $666.

  • 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 $1,053). 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
Segovia
Fuenlabrada

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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 août 16, 2025.
AirlineCheapestAverageFlexibilityOn-time
AviancaCheapest$543Average$715FlexibilityNo cancel feeOn-time71%
Air EuropaCheapest$665Average$792FlexibilityNo cancel feeOn-time83%
IberiaCheapest$678Average$825FlexibilityNo cancel feeOn-time77%
KLMCheapest$681Average$792FlexibilityNo cancel feeOn-time75%
Air FranceCheapest$695Average$772FlexibilityNo cancel feeOn-time77%
Turkish AirlinesCheapest$698Average$787FlexibilityNo cancel feeOn-time77%
United AirlinesCheapest$700Average$822FlexibilityNo cancel feeOn-time69%
Copa AirlinesCheapest$826Average$1,190FlexibilityNo cancel feeOn-time70%

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