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Panama City

$458+ Cheap flights from Madrid, Spain (MAD) to Panama City (PTY)

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 1/22. Fares are subject to change and may not be available on all flights or dates of travel.
MAD — PTY
nov. 15 — nov. 221
sáb. 11/15
sáb. 11/22
1 adult, Economy
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Cheapflights Tip: The best prices from Madrid Barajas to Panama City Tocumen Intl are usually found in March or February, booked 35 days in advance, depart on a Wednesday or Friday and return on a Tuesday

Cheap flight deals from Madrid to Panama City

Discover tips and strategies to find the most affordable flight options for your journey from Madrid (MAD) to Panama City (PTY). 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 octubre 16, 2025.

Most accurate provider

FlightHub
3 stars

Most trusted provider

FlightHub
3 stars

Round-trip from

$708
(Kiwi.com)

One-way from

$428
(Kiwi.com)

Popular in

December

Cheapest in

March

Average price

$751

Good round-trip deal

$638 or less

Good one-way deal

$346 or less
Provider with most accurate pricing for Madrid Barajas-Panama City Tocumen Intl flight deals.
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Provider most trusted by Cheapflights users for Madrid Barajas-Panama City Tocumen Intl flights.
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From Madrid Barajas to Panama City Tocumen Intl
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One-way flight from Madrid Barajas to Panama City Tocumen Intl
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Highest demand for flights based on searches. 9% potential increase in price ($88 potential increase over avg. RT price).
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Cheapest flight prices on average. 3% potential price decrease ($29 potential savings vs. average RT price).
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Average for round-trip flights in October 2025
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Price to beat on a round-trip flight from Madrid Barajas to Panama City Tocumen Intl.
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Price to beat on a one-way flight from Madrid Barajas to Panama City Tocumen Intl.
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Find flight deals from Madrid to Panama City

Cheapest flights from Madrid to Panama City
Explore the most affordable flight options available from Madrid to Panama City. Find the lowest fares from popular airlines and budget airlines, with prices last updated on octubre 16, 2025.

This KLM deal was found by Cheapflights users on 10/15. 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.
mié. 11/128:30 pmMAD - PTY
1 stop26h 00mMultiple Airlines
mié. 11/2610:20 pmPTY - MAD
1 stop13h 20mMultiple Airlines
Deal found 10/15$736
This KLM deal was found by Cheapflights users on 10/15. 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.
mié. 11/128:30 pmMAD - PTY
1 stop26h 00mMultiple Airlines
vie. 11/2810:20 pmPTY - MAD
1 stop28h 50mMultiple Airlines
Deal found 10/15$738
This Delta deal was found by Cheapflights users on 10/15. 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 Delta is selected, and click “Compare selected” under the list of providers to see comparable flight deals.
jue. 11/1310:00 amMAD - PTY
2 stops58h 12mDelta
mié. 11/263:37 pmPTY - MAD
1 stop35h 38mDelta
Deal found 10/15$756
This Delta deal was found by Cheapflights users on 10/16. 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 Delta is selected, and click “Compare selected” under the list of providers to see comparable flight deals.
mié. 11/2611:15 amMAD - PTY
1 stop32h 57mDelta
lun. 12/83:46 pmPTY - MAD
2 stops34h 14mDelta
Deal found 10/16$759
This British Airways deal was found by Cheapflights users on 10/16. 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 British Airways is selected, and click “Compare selected” under the list of providers to see comparable flight deals.
sáb. 10/1812:00 pmMAD - PTY
Nonstop10h 40mIberia
sáb. 10/255:10 pmPTY - MAD
Nonstop10h 05mIberia
Deal found 10/16$787
This Iberia deal was found by Cheapflights users on 10/15. 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.
lun. 11/2411:40 amMAD - PTY
Nonstop11h 05mIberia
lun. 12/16:20 pmPTY - MAD
Nonstop10h 05mIberia
Deal found 10/15$790
This Air France deal was found by Cheapflights users on 10/15. 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.
jue. 11/276:00 amMAD - PTY
1 stop20h 10mAir France
jue. 12/410:20 pmPTY - MAD
1 stop18h 45mAir France
Deal found 10/15$797
This Delta deal was found by Cheapflights users on 10/15. 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 Delta is selected, and click “Compare selected” under the list of providers to see comparable flight deals.
jue. 11/1310:00 amMAD - PTY
2 stops34h 12mDelta
sáb. 11/298:05 amPTY - MAD
1 stop19h 10mDelta
Deal found 10/15$801
This Delta deal was found by Cheapflights users on 10/16. 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 Delta is selected, and click “Compare selected” under the list of providers to see comparable flight deals.
lun. 12/810:00 amMAD - PTY
2 stops34h 21mDelta
mié. 12/318:00 amPTY - MAD
1 stop19h 15mDelta
Deal found 10/16$804
This Delta deal was found by Cheapflights users on 10/15. 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 Delta is selected, and click “Compare selected” under the list of providers to see comparable flight deals.
mié. 11/1211:00 amMAD - PTY
2 stops57h 12mDelta
mar. 11/253:37 pmPTY - MAD
2 stops58h 23mDelta
Deal found 10/15$808
This Delta deal was found by Cheapflights users on 10/15. 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 Delta is selected, and click “Compare selected” under the list of providers to see comparable flight deals.
sáb. 11/1510:00 amMAD - PTY
2 stops58h 12mDelta
jue. 11/273:37 pmPTY - MAD
1 stop34h 23mDelta
Deal found 10/15$812

Cheapflights 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, Cheapflights users made 2,558,603 searches. Data last updated octubre 16, 2025.
Use the filters below to find and compare flights from Madrid to Panama City that are best for you.

Fly from

Madrid

Fly to

Panama City

Route

Depart

Return

Price

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

mié. 11/26

11:15 am-2:12 pm

1 stop32h 57m

Panama City Tocumen Intl

lun. 12/8

3:46 pm-8:00 am

2 stops34h 14m

$759

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

mié. 3/11

3:10 pm-7:45 pm

Nonstop10h 35m

Panama City Tocumen Intl

lun. 4/6

8:25 pm-1:15 pm

Nonstop9h 50m

$781

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

lun. 3/16

3:10 pm-7:45 pm

Nonstop10h 35m

Panama City Tocumen Intl

lun. 4/6

8:25 pm-1:15 pm

Nonstop9h 50m

$781

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

vie. 12/5

10:00 am-2:21 pm

2 stops34h 21m

Panama City Tocumen Intl

vie. 1/16

3:27 pm-8:00 am

2 stops34h 33m

$803

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

jue. 3/5

4:50 pm-4:30 pm

1 stop29h 40m

Panama City Tocumen Intl

lun. 3/9

10:20 pm-9:10 am

1 stop28h 50m

$817

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

vie. 12/5

10:00 am-2:21 pm

2 stops34h 21m

Panama City Tocumen Intl

mar. 12/30

8:00 am-8:00 am

2 stops42h 00m

$848

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

jue. 3/26

3:10 pm-7:45 pm

Nonstop10h 35m

Panama City Tocumen Intl

mar. 4/7

8:25 pm-1:15 pm

Nonstop9h 50m

$848

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

vie. 12/5

10:00 am-2:21 pm

2 stops34h 21m

Panama City Tocumen Intl

jue. 1/15

3:27 pm-8:00 am

2 stops34h 33m

$848

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

vie. 3/27

3:10 pm-7:45 pm

Nonstop10h 35m

Panama City Tocumen Intl

mié. 4/8

8:25 pm-1:15 pm

Nonstop9h 50m

$851

MadridPanama City

MAD - PTY

MADPTY

Madrid Barajas

jue. 11/27

11:00 am-7:59 pm

2 stops38h 59m

Panama City Tocumen Intl

jue. 12/4

3:46 pm-7:40 pm

2 stops21h 54m

$916

Flights are sorted by cheapest round-trip flights first.

Deals found on 10/15

Showing 1-10 of 21 results
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Compare providers for flights from Madrid to Panama City

Provider information is updated monthly. Please note that these providers often have deals for this flight, but the availability may vary on a day-by-day basis on Cheapflights.
Use the table below to compare price accuracy, trust ratings, and cancellation policies for each provider offering flight deals from Madrid to Panama City in October.
ProviderPrice AccuracyTrust Score*
eDreamsPrice Accuracy3 starsTrust Score*3 stars
FlightHubPrice Accuracy3 starsTrust Score*3 stars

*The Trust Score is based on feedback from users after their booking experience. It measures overall satisfaction, helping us identify issues like hidden fees, problems during the ticketing process, and the quality of customer service. This score is our best indicator of the provider's quality and reliability.

  • Most accurate provider: When it comes to deals on Madrid-Panama City flights, users find the pricing of FlightHub to be most consistent on Cheapflights vs. FlightHub Users can find the same prices on Madrid-Panama City flight deals on Cheapflights vs. FlightHub >95% of the time. Price accuracy is based on data collected from Madrid-Panama City flight searches over the past month and is updated monthly.
  • Most trusted provider: When it comes to deals on Madrid-Panama City flights, Cheapflights users trust FlightHub the most. FlightHub has received a user feedback score of 3 out of 3 stars (3 being the best), meaning they have been trusted the most by Cheapflights users looking for Madrid-Panama City flight deals. Provider user feedback score is based on Cheapflights searches over the past month and is updated monthly.

Best time to book a flight from Madrid to Panama City

Have a flexible travel schedule? Discover the best time to fly to Panama City from Madrid 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 Madrid to Panama City

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

Use this chart to determine the optimal time to book a round-trip flight from Madrid to Panama City. Price data was last updated on October 10, 2025.

The price you pay for your flight from Madrid to Panama City may vary depending on when you book. For the best chance of a lower fare, look to book 35 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 Madrid to Panama City?

Currently, October is the cheapest month in which you can book a flight from Madrid to Panama City (average of $534). Flying from Madrid to Panama City in December is currently the most expensive (average of $757). 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 MAD to PTY?

Find hourly flight availability from Madrid to Panama City. Discover flight options and departure times throughout the day, allowing you to choose a departure time that suits your schedule. Data last updated octubre 16, 2025.

Regardless of the time of day you decide to fly, the ticket price will remain around the same. Book flights from Madrid to Panama City as you normally would.

The best insider tips for Madrid to Panama City 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 Madrid to Panama City trip
Airports
MAD

Many airlines at MAD offer automated kiosks for quick check-in, including Iberia. Security lines can be crowded but move quickly.

Read more about MADby Lori Zaino
PTY

At PTY, Uber is often the fastest and less expensive transport option to Panama City, compared to taxis.

Read more about PTYby Taryn White
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

Reviews of airlines servicing Panama City

Get insights into the airlines that provide service to Panama City. 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 Panama City. Reviews last updated octubre 16, 2025.
Get a feel of what it's like to fly with Air Europa, Iberia, and Avianca from Madrid to Panama City by reading reviews from past customers. Users have also rated airlines in terms of entertainment options, comfort, food, crew/service, and boarding process.
Air Europa
7.0
Good
568 reviews

Crew

7.5

Boarding

7.1

Entertainment

6.6

Overall

7.0

Food

6.3

Comfort

6.9

Reviews

1 / 12
6.0
Good

Anonymous,Sep 2025

MAD - JFK

Even though I paid for a ticket that included check in baggage and seat assignment, they did not honor the seat assignment and said it was not included. I paid for 6 tickets, 6 bags so I wanted to ensure we sat together for the long flight. I was given the worst seats possible, very last row, next to the bathroom, and a windowless "window seat". Not what I expected when I made the reservation.
Air Europa
7.0
Good
568 reviews
Air Europa
7.0
Good
568 reviews

Crew

7.5

Boarding

7.1

Entertainment

6.6

Overall

7.0

Food

6.3

Comfort

6.9

Reviews

1 / 12
6.0
Good

Anonymous,Sep 2025

MAD - JFK

Even though I paid for a ticket that included check in baggage and seat assignment, they did not honor the seat assignment and said it was not included. I paid for 6 tickets, 6 bags so I wanted to ensure we sat together for the long flight. I was given the worst seats possible, very last row, next to the bathroom, and a windowless "window seat". Not what I expected when I made the reservation.
Iberia
7.0
Good
2,994 reviews
Air Europa
7.0
Good
568 reviews

Crew

7.5

Boarding

7.1

Entertainment

6.6

Overall

7.0

Food

6.3

Comfort

6.9

Reviews

1 / 12
6.0
Good

Anonymous,Sep 2025

MAD - JFK

Even though I paid for a ticket that included check in baggage and seat assignment, they did not honor the seat assignment and said it was not included. I paid for 6 tickets, 6 bags so I wanted to ensure we sat together for the long flight. I was given the worst seats possible, very last row, next to the bathroom, and a windowless "window seat". Not what I expected when I made the reservation.
Avianca
6.6
Okay
2,452 reviews
Air Europa
7.0
Good
568 reviews

Crew

7.5

Boarding

7.1

Entertainment

6.6

Overall

7.0

Food

6.3

Comfort

6.9

Reviews

1 / 12
6.0
Good

Anonymous,Sep 2025

MAD - JFK

Even though I paid for a ticket that included check in baggage and seat assignment, they did not honor the seat assignment and said it was not included. I paid for 6 tickets, 6 bags so I wanted to ensure we sat together for the long flight. I was given the worst seats possible, very last row, next to the bathroom, and a windowless "window seat". Not what I expected when I made the reservation.

Related info for your journey

Find useful and relevant information for your journey from Madrid to Panama City. 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 Madrid to Panama City?

    To fly from Madrid to Panama City, you need to book a flight from Barajas (MAD) to Tocumen Intl (PTY). Nonstop flights to Panama City Tocumen Intl from Madrid Barajas take 10h 35m on average. When it comes time to book airfare, you have a few options: there are 4 outbound flights from Barajas to Tocumen Intl offered by 3 different airlines.

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

    The Madrid Barajas to Panama City Tocumen Intl flight path was viewed by 6 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 Madrid to Panama City?

    Delta and Air Europa can get you from Madrid to Panama City in just under 10h 35m. Your travel time can differ by up to 47h 46m. Madrid and Panama City are separated by a distance of 5065 mi. This flight may include one or multiple stops.

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

    Avianca, at $545, was found to be the cheapest airline from Madrid to Panama City.Alternate airlines to your destination round-trip include Air Europa and Iberia. Avianca is 32% cheaper than the average price of flights available within the next 90 days to this destination.

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

    Consider Pascan (90%), Air Europa (79%) or Etihad Airways (79%) when booking your flight. These represent the most reliable airlines when flying from Madrid to Panama City.

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

    The cheapest flight price from Madrid to Panama City is $339. On average you can expect to pay $682. The most popular route, (Madrid Barajas - Panama City Tocumen Intl), can usually be booked for $679.

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

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

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

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

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

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

    Currently, October is the cheapest month in which you can book a flight from Madrid to Panama City (average of $534). Flying from Madrid to Panama City in December is currently the most expensive (average of $757). 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

Browse thousands of different options on Cheapflights for your next trip

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Top 3 airlines flying from Madrid to Panama City

Discover the top 3 airlines that operate flights from Madrid to Panama City. 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 octubre 16, 2025.
AirlineCheapestAverageFlexibilityOn-time
AviancaCheapest$545Average$1,129FlexibilityNo cancel feeOn-time71%
Air EuropaCheapest$630Average$875FlexibilityNo cancel feeOn-time83%
IberiaCheapest$644Average$862FlexibilityNo cancel feeOn-time77%

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