MAD - PTY

$428 Find Cheap Flights from Madrid to Panama City

This is the cheapest one-way flight price found by a KAYAK user in the last 72 hours by searching for a flight from Madrid to Panama City departing on 1/28. Fares are subject to change and may not be available on all flights or dates of travel. Click the price to replicate the search for this deal.
1 adult
1 adult, Economy, 0 bags

KAYAK searches hundreds of travel sites at once for deals on flights to Panama City

 
These are the airlines KAYAK users have selected most often from within our search results in flight searches from Madrid to Panama City, as well as popular online travel agencies
These are the airlines KAYAK users have selected most often from within our search results in flight searches from Madrid to Panama City, as well as popular online travel agencies
Travelers love KAYAK
41,299,237 searches in the past 7 days on KAYAK

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Filter your dealsChoose cabin class, free Wi-Fi and more.

Everything you should know

Cheapest round-trip
$719
Overall average: $687
Air Europa
Sat 3/14Mon 3/23
MAD - PTY • Non-stop
Cheapest one-way
$428
Typical prices: $512-$772
Multiple Airlines
Wed 1/28
MAD - PTY • 2 stops
Our travelers' advice
AI-powered summary based on content written by travel experts. AI can make mistakes.
Air Europa's Economy Flex allows changes without penalty.
Use authorized taxi stands at PTY for fixed rates.
Expert advice
Expert advice
Expert advice
Expert advice
Top airlines
Air Europa
Cheapest • from $720 (round-trip)
Air Europa
Best reviews • 7.0 score
Airline reviews
Airline reviews
+1
+1
Airline reviews
Airline reviews
+1
When to book
8 weeks
in advance
Our data shows that travelers who book at least 8 weeks in advance save around 15% compared to booking last minute.
Insights
Insights
Insights
Insights
When to travel
March
Cheapest • 16% price drop
December
Most popular
Good to know
Good to know
+1
+1
Good to know
Good to know
+1
Start a new search
KAYAK searches 100s of sites at once to find you the best travel deals.
We hope you love your trip to Panama City!
Flight Deals
Booking Insights
Expert advice
Flight Deals

Cheap Flights from Madrid to Panama City (MAD-PTY)

 
Here are some of the best deals found on KAYAK recently from the most popular airlines for round-trip flights from Madrid to Panama City that are departing in the next months. While these flights were available on KAYAK in the last 72 hours, prices and availability are subject to change and deals may expire.
Discover the best prices for you by selecting your travel dates on KAYAK.

Recent round-trip flight deals from Madrid to Panama City

Sat, Mar 14 - Mon, Mar 23
Air Europa Logo
3:10 pm - 7:45 pm
MAD
-
PTY
10h 35mnonstop
Air Europa Logo
9:30 pm - 1:05 pm
PTY
-
MAD
9h 35mnonstop
$719Air Europa
Wed, Mar 25 - Mon, Apr 20
Air Europa Logo
3:10 pm - 7:45 pm
MAD
-
PTY
10h 35mnonstop
Air Europa Logo
8:25 pm - 1:15 pm
PTY
-
MAD
9h 50mnonstop
$720Air Europa
Mon, Feb 16 - Sun, Mar 1
Avianca Logo
6:35 am - 4:55 pm
MAD
-
PTY
16h 20m1 stop
Avianca Logo
2:55 am - 11:20 pm
PTY
-
MAD
14h 25m1 stop
$721Avianca
Mon, Apr 13 - Thu, Apr 30
Avianca Logo
1:10 pm - 9:10 pm
MAD
-
PTY
15h 00m1 stop
Avianca Logo
10:05 pm - 11:30 pm
PTY
-
MAD
18h 25m1 stop
$729Avianca
Mon, Apr 13 - Wed, Apr 29
Avianca Logo
5:30 pm - 12:45 am
MAD
-
PTY
14h 15m1 stop
Avianca Logo
3:20 am - 11:30 pm
PTY
-
MAD
13h 10m1 stop
$730Avianca
Thu, Jan 29 - Sat, Jan 31
Avianca Logo
6:35 am - 2:00 pm
MAD
-
PTY
13h 25m1 stop
Avianca Logo
5:50 pm - 11:20 pm
PTY
-
MAD
23h 30m1 stop
$744Avianca
Sun, Jan 25 - Sat, Jan 31
Avianca Logo
6:35 am - 4:55 pm
MAD
-
PTY
16h 20m1 stop
Avianca Logo
2:55 am - 11:20 pm
PTY
-
MAD
14h 25m1 stop
$745Avianca
Tue, Mar 24 - Wed, Apr 15
Avianca Logo
1:20 am - 8:50 am
MAD
-
PTY
13h 30m1 stop
Avianca Logo
3:20 am - 11:30 pm
PTY
-
MAD
13h 10m1 stop
$749Avianca
Sat, Jun 6 - Sat, Jun 13
KLM Logo
1:05 pm - 4:50 pm
MAD
-
PTY
34h 45m1 stop
KLM Logo
6:50 pm - 9:30 am
PTY
-
MAD
31h 40m1 stop
$750KLM
Thu, May 21 - Mon, May 25
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
$754Air Europa
Booking Insights

KAYAK's insights & trends for Madrid to Panama City flights

Get data-powered insights and trends into flights from Madrid to Panama City to help you find the cheapest flights, the best time to fly and much more.

What’s the cheapest day of the week to fly from Madrid to Panama City?

The average price of all round-trip flights from Madrid to Panama City clicked on KAYAK for each day over the last 12 months.

If you are looking for a flight deal from Madrid to Panama City, look for departures on Wednesdays and avoid leaving on a Thursday, as it's usually the priciest day. When flying back from Panama City, Wednesday is the cheapest day to fly and Sunday is the most expensive.

What is the cheapest month to fly from Madrid to Panama City?

To calculate monthly average prices, KAYAK takes all prices for each month over the last year for round-trip flights from Madrid to Panama City, removes the top 0.1% to account for outliers, and then takes the median of all values for each month.

The cheapest month for flights from Madrid to Panama City is March, where tickets cost $687 (return) on average. On the other hand, the most expensive months are December and August, where the average cost of round-trip tickets is $1,115 and $1,004 respectively.

Can I save money by flying with a layover from Madrid to Panama City?

The average round-trip price for all non-stop flights, flights with one layover, and flights with two layovers for the route found by users searching on KAYAK in the last 2 weeks.

Yes, flying with a layover may cost you more time, but you can also save money on the route, with a 1 stop layover the cheapest option at $677 on average.

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

To calculate weekly average prices, KAYAK takes all prices for each week before departure over the last year for round-trip flights from Madrid to Panama City, removes the top 0.1% to account for outliers, and then takes the average of all the values for each week.

To get a below average price on the flight from Madrid to Panama City, you should book around 8 weeks before departure, which saves you about 15% compared to booking last minute. For the absolute cheapest price, our data suggests you should book 22 weeks before departure.

Expert advice

Expert advice for your flight from Madrid to Panama City

 
AI-powered summary based on content written by travel experts. AI can make mistakes.
KAYAK teamed up with top travel experts to share the best tips for your journey.
Airlines
Air Europa

Air Europa offers speedy Wi-Fi and two meal services for premium and business fares.


Air Europa's Economy Flex allows changes without penalty and offers preferred seat selection.

Iberia

Iberia's business class offers all-aisle access and private suites on A350-900 aircraft.


Iberia provides two meals and a wide range of in-flight entertainment on long-haul flights.

Airports
MAD

For VAT tax refunds, complete forms in-store and validate at the airport before check-in. Refunds are mostly electronic, sometimes cash.

PTY

To avoid taxi haggling, use authorized taxi stands at PTY for fixed rates. Confirm express highway use to Panama City.

Our travel experts
Laura Ratliff

Laura Ratliff

Expert on Air Europa

Laura Ratliff

Laura Ratliff

Laura Ratliff is a New York-based writer and editor. She lives in downtown Brooklyn with her husband and their beloved dogs. Originally from Texas, she now considers New York City her home. She typically spends more than 200,000 miles on a plane each year and stays in plenty of hotels.

Read more
Marisa Garcia

Marisa Garcia

Expert on Iberia

Marisa Garcia

Marisa Garcia

Marisa knows planes inside and out, spending 16 years working on aircraft in hangars at airports around the world. She is an aviation industry expert, specialized in airline interiors and regulations. Ten years ago, she pivoted to journalism. She shares her insights in leading aviation, travel, and business publications and on her site FlightChic.

Read more
Ramsey Qubein

Ramsey Qubein

Expert on MAD

Ramsey Qubein

Ramsey Qubein

An avid traveler and aviation expert who has visited 173 countries, all 50 states and seven continents, Ramsey Qubein flies nearly 400,000 miles a year. As a North Carolina-based freelance journalist for publications including Conde Nast Traveler, Forbes, USA Today and Bloomberg among others, he explores the latest trends in aviation, hospitality, cruises and business.

Read more
Mark Chesnut

Mark Chesnut

Expert on PTY

Mark Chesnut

Mark Chesnut

Mark Chesnut is a travel writer and public speaker with more than 30 years of experience. The 2019 winner of the NLGJA Excellence in Travel Writing Award, Mark is the author of the book “Prepare for Departure” and has covered air travel for multiple top consumer and trade media outlets.

Read more

Good to know

Low seasonMay
Cheapest flight$428
Best time to beat the crowds with an average 15% drop in price.
Most popular time to fly with an average 36% increase in price.
Flight from Madrid to Panama City

When to book flights from Madrid to Panama City

Are your dates flexible? Find out the best times to travel from Madrid to Panama City based on our flight data from the last year. Discover the cheapest month and even day to fly.
Estimated round-trip price
KAYAK looks at all historical flight data for each date to provide a predicted price for one-way trips or round-trips with a duration up to 40 days. While we try to provide actual minimum prices for each date, some prices are predictions and actual prices may differ.

FAQs for booking flights from Madrid to Panama City

  • What is the cheapest flight from Madrid to Panama City?

    In the last 3 days, the lowest price for a flight from Madrid to Panama City was $428 for a one-way ticket and $719 for a round-trip.

  • Do I need a passport to fly between Madrid and Panama City?

    Yes, you'll most likely have to show a valid passport before boarding the plane in Madrid and on arrival in Panama City.

  • Which airports will I be using when flying from Madrid to Panama City?

    Madrid airport is called Madrid Barajas and the only airport in Panama City is Panama City Tocumen Intl.

  • Which airlines offer Wi-Fi service onboard planes from Madrid to Panama City?

    Iberia, and KLM offer inflight Wi-Fi service on the Madrid to Panama City flight route.

  • Which aircraft models fly most regularly from Madrid to Panama City?

    The Boeing 787-9 Dreamliner is the aircraft model that flies most regularly on the Madrid to Panama City flight route.

  • Which airline alliances offer flights from Madrid to Panama City?

    Star Alliance, oneworld, and SkyTeam are the airline alliances operating flights between Madrid and Panama City, with Star Alliance being the most commonly used for this route.

  • On which days can I fly direct from Madrid to Panama City?

    There are nonstop flights from Madrid to Panama City on a daily basis.

  • Which is the best airline for flights from Madrid to Panama City, Air Europa or Iberia?

    The two airlines most popular with KAYAK users for flights from Madrid to Panama City are Air Europa and Iberia. With an average price for the route of $857 and an overall rating of 7.0, Air Europa is the most popular choice. Iberia is also a great choice for the route, with an average price of $953 and an overall rating of 7.0.

  • How does KAYAK find such low prices on flights from Madrid to Panama City?

    KAYAK is a travel search engine. That means we look across the web to find the best prices we can find for our users. With over 2 billion flight queries processed yearly, we are able to display a variety of prices and options on flights from Madrid to Panama City.

  • How does KAYAK's flight Price Forecast tool help me choose the right time to buy my flight ticket from Madrid to Panama City?

    KAYAK’s flight Price Forecast tool uses historical data to determine whether the price for a flight to Panama City from Madrid is likely to change within 7 days, so travelers know whether to wait or book now.

  • What is the Hacker Fare option on flights from Madrid to Panama City?

    Hacker Fares allow you to combine one-way tickets in order to save you money over a traditional round-trip ticket. You could then fly to Panama City with an airline and back to Madrid with another airline. Booking your flights between Madrid and PTY can sometimes prove cheaper using this method.

  • What is KAYAK's "flexible dates" feature and why should I care when looking for a flight from Madrid to Panama City?

    Sometimes travel dates aren't set in stone. If your preferred travel dates have some wiggle room, flexible dates will show you all the options when flying to Panama City from Madrid up to 3 days before/after your preferred dates. You can then pick the flights that suit you best.

KAYAK’s top tips for finding a cheap flight from Madrid to Panama City

  • Looking for a cheap flight? 25% of our users found flights on this route for $808 or less one-way and $622 or less round-trip.

Prefer to fly direct from Madrid to Panama City?

 
Direct data is based off flight results for the next 60 days. Find direct flights from all airlines flying direct from Madrid Barajas to Panama City Tocumen Intl.
Find which airlines fly direct from Madrid Barajas Airport to Panama City Tocumen Intl Airport, which days they fly and book direct flights.

Direct departures

Madrid Barajas to Panama City Tocumen Intl

Monday

Air Europa, Iberia

Air Europa, Iberia

Tuesday

Air Europa

Air Europa

Wednesday

Air Europa, Iberia

Air Europa, Iberia

Thursday

Air Europa

Air Europa

Friday

Air Europa

Air Europa

Saturday

Air Europa, Iberia

Air Europa, Iberia

Sunday

Air Europa

Air Europa

See more direct flights

Direct returns

Panama City Tocumen Intl to Madrid Barajas

Monday

Air Europa, Iberia

Air Europa, Iberia

Tuesday

Air Europa

Air Europa

Wednesday

Air Europa, Iberia

Air Europa, Iberia

Thursday

Air Europa

Air Europa

Friday

Air Europa

Air Europa

Saturday

Air Europa, Iberia

Air Europa, Iberia

Sunday

Air Europa

Air Europa

See more direct flights

Reviews of the top 3 airlines serving from Madrid to Panama City

 
See real verified KAYAK customer reviews for airlines flying from Madrid to Panama City. Airline scores are aggregated from all reviews left by passengers on KAYAK after flying with an airline. KAYAK doesn’t show reviews that are older than 5 years. Learn how KAYAK collects reviews.
Need help choosing which airline to fly with from Madrid to Panama City? KAYAK airline reviews give an overall score for each airline based on loads of factors, including comfort, boarding, in-flight entertainment and more, to make your decision easier. See airline scores according to verified KAYAK customer reviews.
7.0
Air EuropaOverall score based on 577 reviews
7.5Crew
6.9Comfort
7.1Boarding
6.3Food
6.6Entertainment
Airline reviews

This flight was delayed by more than an hour. The seats are uncomfortable ans do not recline properly. I prepurchased a wifi pass, but wifi was not working on this flight at all. The food was bland.

4.0 OkayAnonymous, Dec 2025
MAD - MIA
Read more Air Europa reviews

This flight was delayed by more than an hour. The seats are uncomfortable ans do not recline properly. I prepurchased a wifi pass, but wifi was not working on this flight at all. The food was bland.

Food situation was bad. Also movie choices when compared to other airlines was terrible. Seats very narrow. My tv didn’t work.

I was not allowed to cancel the flight, customer service is atrocious

Great staff, just very far from the main terminal, had to run to connect my flight. I had 90 minutes to spare. But my flight from Chicago was delayed also.

My luggage is lost and nowhere to be found, no response from airline

Boarding was a shitshow. Had to bus to the gate. No separate bus and boarding process for Business Class.

The plane was very old, no power outlets. We also had to wait a long time to board. They kept moving us to different lines before we actually could step foot on the plane. We ended up being delayed an hour but we were never told or informed for any reason. After the meal I asked for a coffee which the flight attendant forgot and I had to ask again. Overall not the worst but not the best experience.

Need to pay for headsets, water, or any extra except air to breath.

Sitting space was very tight and I am not big or fat (I am 5'10" 178 Lb), so eating was very challenging. The rest was good.

Sitting space was very tight, so eating was difficult. But everything else was good.

The crew was super friendly and helpful. The food was quite good. An overall positive experience.

the seats were bad and uncomfortable and the food was not tasty.

The crew was amazing. I appreciate the level of professionalism in the Iberia crew.

A more organized boarding experience and better food would have made the experience better.

Flight cancelled, lost a day of travel where we were trying to meet friends we couldn't meet. Iberia website is very difficult to navigate and has lots of dead links. If you do not speak Spanish it is even harder. Tried communicating on their WhatsApp and that was also close to impossible. We were told we'd be compensated 150EU's for this cancelled flight but there is no avenue towards rectifying this issue. I've had to take it up with my credit card to contest the charges and not pay for a flight that didn't happen but doubt I will ever be reimbursed for my two Ubers to the airport where we never even departed or the 150EU's we were told we would receive. I would never fly Iberia again. Clown show.

I've taken British Airways before and it has been great. On this trip to Spain and Portugal we had two BA flights. On both flights we were taken by bus from the terminal out to the plane on the tarmac. There were many older folks on these flights, and to ask people in their 70s to lug their carry-on and personal items up the long mobile staircase to the plane entrance, is very disturbing. I won't be taking British Airways in the future. Many people on these flights were very unhappy.

why can't planes be boarded from back to front?? everything was great otherwise

We flew into Barcelona and the plane was so cramped and very uncomfortable and dirty. But we flew out of Madrid and that plane was much better. Would fly Iberia again.

For what we are willing to pay for international air travel, our experience was very good. We had no problem checking in, we had very little wait time at the AA counter in Madrid, and the staff in Madrid were very helpful. The flight crew was helpful and courteous, the plane was on the newer side, and our assigned seats were together without us needing to purchase them. The flight took off on time and arrived early. Overall, it was a pleasant experience or as much as could be expected in economy for almost 10 hours.

Terrible customer service. I booked business class and the counter agent didn’t bother asking me about any choice or preferred seat, basically assigned me that last seat and couldn’t even answer if it was a business class seat. Also iberia lost my suitcase on my flight from JFK to MAD with the layover in BCN. Useless customer service at the counter. Thank goodness I happened to check the baggage claim area of the next flight in…there it was.

Pros: we leave and arrive on time Cons: the most uncomfortable seats ever. You cant recline at all your seats. No entertainment No TVs flight attendants didn't provide even a glass of water. You have to go to back of the airplane and ask for one. I am Colombian and I remember seeing the flight attendants very neat, elegants which is or was a staple of Avianca.it was one with tennis shoes, no male up, the hair was messy... that was really odd.

Here we have another airline flying to Guatemala but doesn't have a plus or a less, just in the middle. Why? Well, first we don't have even free water Movie selection is poor Seats don't recline in some places Food selection is carb based Forgot to mention, customer service on the web is the worst. Good things; Very reliable on schedule Kind crew

We waited for one hour to deboard the plane after landing. That could be better

I like the crew members they're very friendly. Clean plane. The flight was on time. I dont like the comfort my car seat its better that the plane seats. They charge for everything. This airline was very good. Now it's a low cost airline

No free snacks nor drinks on very short 30min flight. Entertainment system is over wifi to your own phone or tablet, which is good but often a show or movie just stops and refuses to continue

I had to go to the boarding counter for them to enter my return flight as it’s not with Avianca. There was a long queue as there were lots of people being called to the counter.

Did not fly with Pakistan International Airlines. Have never flown with Pakistan International Airlines.

Luggage lost and nowhere to be found, no response from either airline regarding my bag

Very uncomfortable planes , poor service on the plane , take your own water so you don’t dehydrate , in a 6 hs flight they sold one time food and beverage . 1 plane was delayed 6 hs , I lost a connecting flight . Then in the way back they announce a delay of 2 hs so I had to take a different flight to arrive on time for my connecting flight . Avoid this airline .

The check in is the only positive thing in Avianca. The seat is the most uncomfortable I have traveled, the distance is minimal.

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

Information on your arrival and departure airports