MAD - PTY

$467 Find Cheap Flights from Madrid to Panama City - Compare and Save

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Everything you should know

Cheapest round-trip
$687
Typical prices: $761-$1,140
Avianca
Wed 1/31Mon 2/26
MAD - PTY • 1 stop
Cheapest non-stop
$778
Typical prices: $755-$1,065
Air Europa
Fri 2/16Fri 2/23
MAD - PTY • Non-stop
Nonstop flights
You can fly direct with Air Europa and Iberia. Average duration is 10h 44m
Direct flights
+1
Direct flights
+1
Avoid delays
Most punctual • 73% on-time
Best time • Fewest delays
Insights
Insights
When to book
in advance
Our data shows that travelers who book at least 13 weeks in advance save around 25% compared to booking last minute.
Insights
Insights
When to travel
Cheapest • 17% price drop
Most popular
Good to know
+1
Good to know
+1
Top layover airports
Cheapest • Avg $767 (round-trip)
Shortest trip • 14h 27m (one-way)
Insights
Insights
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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)

 
Discover the best prices for you by selecting your travel dates on KAYAK.

Recent round-trip flight deals from Madrid to Panama City

Sun, Jan 31 - Fri, Feb 26
Avianca Logo
10:10 am - 1:20 amMAD  Madrid Barajas-PTY Panama City Tocumen Intl
21h 10m1 stop Bogotá El Dorado
Avianca Logo
10:05 am - 8:10 amPTY  Panama City Tocumen Intl-MAD Madrid Barajas
16h 05m1 stop Bogotá El Dorado
$687Avianca
Sat, Mar 27 - Sat, Apr 3
Avianca Logo
8:10 am - 5:15 pmMAD  Madrid Barajas-PTY Panama City Tocumen Intl
15h 05m1 stop Bogotá El Dorado
Avianca Logo
4:25 am - 12:20 amPTY  Panama City Tocumen Intl-MAD Madrid Barajas
12h 55m1 stop Bogotá El Dorado
$696Avianca
Tue, Apr 6 - Mon, Apr 26
Avianca Logo
2:20 am - 9:15 amMAD  Madrid Barajas-PTY Panama City Tocumen Intl
13h 55m1 stop Bogotá El Dorado
Avianca Logo
5:55 pm - 12:20 amPTY  Panama City Tocumen Intl-MAD Madrid Barajas
23h 25m1 stop Bogotá El Dorado
$696Avianca
Tue, Feb 16 - Tue, Feb 23
Air Europa Logo
3:10 pm - 7:45 pmMAD  Madrid Barajas-PTY Panama City Tocumen Intl
10h 35mnonstop
Air Europa Logo
9:30 pm - 1:05 pmPTY  Panama City Tocumen Intl-MAD Madrid Barajas
9h 35mnonstop
$778Air Europa
Thu, Feb 18 - Thu, Mar 18
Air Europa Logo
3:10 pm - 7:45 pmMAD  Madrid Barajas-PTY Panama City Tocumen Intl
10h 35mnonstop
Air Europa Logo
9:30 pm - 1:05 pmPTY  Panama City Tocumen Intl-MAD Madrid Barajas
9h 35mnonstop
$780Air Europa
Fri, Feb 19 - Wed, Feb 24
Iberia Logo
12:00 pm - 5:05 pmMAD  Madrid Barajas-PTY Panama City Tocumen Intl
11h 05mnonstop
Iberia Logo
6:35 pm - 10:40 amPTY  Panama City Tocumen Intl-MAD Madrid Barajas
10h 05mnonstop
$793Iberia
Sun, Feb 28 - Fri, Mar 5
Iberia Logo
12:00 pm - 5:05 pmMAD  Madrid Barajas-PTY Panama City Tocumen Intl
11h 05mnonstop
Iberia Logo
6:35 pm - 10:40 amPTY  Panama City Tocumen Intl-MAD Madrid Barajas
10h 05mnonstop
$805Iberia
Fri, Feb 26 - Mon, Mar 8
Air Europa Logo
3:10 pm - 7:45 pmMAD  Madrid Barajas-PTY Panama City Tocumen Intl
10h 35mnonstop
Air Europa Logo
9:30 pm - 1:05 pmPTY  Panama City Tocumen Intl-MAD Madrid Barajas
9h 35mnonstop
$807Air Europa
Sun, Feb 28 - Fri, Mar 5
Turkish Airlines Logo
2:20 pm - 5:10 pmMAD  Madrid Barajas-PTY Panama City Tocumen Intl
32h 50m2 stops Istanbul Bogotá El Dorado
Turkish Airlines Logo
6:50 pm - 4:55 pmPTY  Panama City Tocumen Intl-MAD Madrid Barajas
40h 05m1 stop Istanbul
$829Turkish Airlines
Sat, Feb 6 - Fri, Feb 12
Turkish Airlines Logo
2:20 pm - 5:10 pmMAD  Madrid Barajas-PTY Panama City Tocumen Intl
32h 50m2 stops Istanbul Bogotá El Dorado
Turkish Airlines Logo
10:00 pm - 4:55 pmPTY  Panama City Tocumen Intl-MAD Madrid Barajas
36h 55m1 stop Istanbul
$830Turkish Airlines
Booking Insights

Price, demand and travel trends for Madrid to Panama City flights

Use KAYAK data on prices, travel dates, airlines and seasonal trends to compare options and book flights with more confidence.

How much is a round-trip flight from Madrid to Panama City?

Round-trip flights from Madrid to Panama City typically range from $761 to $1,140. The lowest price found in the past 5 days was $687, on Avianca.

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

Based on deals KAYAK users found in the last 12 months, Wednesday is the cheapest day of the week to fly from Madrid to Panama City. It’s 7% cheaper than the average day, while Saturday is the most expensive, with prices 15% higher.

What’s the cheapest month to fly from Madrid to Panama City?

•April is the cheapest month to fly from Madrid to Panama City at $748 round-trip.
•November ($1,256) and December ($1,186) are the most expensive months.
•The price difference between flying in the cheapest and most expensive months is 67% on average.
This is based on KAYAK aggregated and averaged internal data over the past 12 months.

When are flights from Madrid to Panama City the cheapest?

Flights from Madrid to Panama City are cheapest 13 weeks before departure. Booking in this window typically costs about 25% less than the average last-minute fare (within 2 weeks of the flight), based on KAYAK data.

Expert advice

Expert advice for your flight from Madrid to Panama City

 
KAYAK teamed up with top travel experts to share the best tips for your journey.
Our travel experts
Laura Ratliff

Laura Ratliff

Expert on Air Europa

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.

Marisa Garcia

Marisa Garcia

Expert on Iberia

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.

Ramsey Qubein

Ramsey Qubein

Expert on MAD

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.

Mark Chesnut

Mark Chesnut

Expert on PTY

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.

Key details for Madrid to Panama City flights

Low season

September

Cheapest flight

$467
Beat the crowds with an average 27% drop in travelers.
The most popular month to fly with an average 29% increase in travelers.
One-way 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

Your Madrid to Panama City flight questions, answered

Find helpful answers about this route, including flight times, airports, airlines and booking tips.

  • What are the earliest and latest flights from Madrid to Panama City?

    These are the earliest and latest flight times available from Madrid to Panama City:

    • Earliest: departs at 12:00 pm and lands at 10:44 pm
    • Latest: departs at 3:55 pm and lands at 2:39 am.

    The flight takes about 10h 44m.

  • What cabin classes can I book on flights from Madrid to Panama City?

    Three cabin classes are available on flights from Madrid to Panama City:

    • Economy Class
    • Premium Economy Class
    • Business Class

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

    A nonstop flight from Madrid to Panama City takes 10h 44m, covering 5,065 miles.

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

    Yes, a valid passport is required for this international route. Many destinations require at least six months of validity beyond your travel dates. Check your passport expiry well before booking.

  • How much should I expect to pay for a Madrid to Panama City flight?

    Round-trip flights from Madrid to Panama City range from $761 to $1,140, with an average of $903 over the past 12 months. Anything below $761 counts as a good deal.

  • How expensive are last-minute Madrid to Panama City flights?

    Last-minute fares on this route (booked within two weeks of departure) run 20% above the $903 route average. Book 13 weeks before departure for the lowest fares.

  • How much can I save by taking a layover when flying from Madrid to Panama City?

    On this route, layover flights are cheaper than nonstop options on average. Layover fares average $767 round-trip via Atlanta Hartsfield-Jackson (ATL), compared to $880 for nonstop.

  • What is the standard checked-bag allowance on flights from Madrid to Panama City?

    There is no standard. Checked-bag policies vary by airline on this route. Most carriers charge $68–$100 for the first checked bag in economy. Premium fares and elite-status bookings typically include a free checked bag.

  • Which aircraft model is used most often on flights from Madrid to Panama City?

    The Boeing 787-9 Dreamliner family is used most often on this route, operated mainly by Air Europa. Other aircraft seen on the route include Airbus A330-200 variants.

  • How are flight departures from Madrid to Panama City spread across the day?

    Afternoon is the busiest departure period on Madrid to Panama City flights, with 100% of flights leaving in that window. Morning departures account for 0%, evening flights for 0%, and night flights for 0%.

  • Have flight prices from Madrid to Panama City changed much recently?

    Yes. Based on fares seen in the past 5 days, round-trip prices on this route showed a wide range, from about $687 to $5,710. That means the highest observed fare was about 8x higher than the lowest one.

  • Which airlines offer Wi-Fi on Madrid to Panama City flights?

    Two airlines offer in-flight Wi-Fi on Madrid to Panama City flights:

    • Iberia
    • Copa Airlines

    Pricing varies by airline and fare class. Some plans are included with the ticket or loyalty program; others are paid add-ons priced by flight length.

  • How are flight prices from Madrid to Panama City looking right now?

    One-way fares from Madrid to Panama City are currently lower than usual. Average one-way flight prices are about $536, which is 9% below the typical average for this route.

  • What car rental options are available at Panama City Tocumen Intl Airport (PTY)?

    Panama City Tocumen Intl Airport (PTY) hosts 5 major car rental companies, with daily rates starting from around $1 for economy cars. Top options include:

    • Avis
    • Ace
    • Europcar
    • Budget
    • Thrifty

  • Which airports can I use when flying from Madrid to Panama City?

    Flights from Madrid to Panama City usually depart from Madrid Barajas (MAD) and arrive at Panama City Tocumen Intl (PTY).

  • What time of day has the fewest delays on flights from Madrid to Panama City?

    Morning flights have the fewest delays on this route, while afternoon departures tend to have the most.

  • At what point is a flight considered delayed from Madrid to Panama City?

    A flight is considered delayed when it departs 15 minutes or more after its scheduled time. This is the standard used by the US Department of Transportation and most airline industry reporting. On the Madrid to Panama City route, 27% of flights were delayed in the past 3 months, with delays averaging 2h 29m.

  • Which airports do connecting flights from Madrid to Panama City pass through?

    One-stop flights from Madrid to Panama City most commonly connect through:

    • Bogotá El Dorado (BOG) - 70% of one-stop connections
    • Istanbul (IST) - 7% of one-stop connections
    • Paris Charles de Gaulle (CDG) - 6% of one-stop connections
    • Newark (EWR) - 4% of one-stop connections

  • Can I save money by using flexible dates for flights from Madrid to Panama City?

    Yes. Flexible dates can save you up to 19% on flights from Madrid to Panama City. Wednesday is the cheapest departure day at $847 round-trip on average, while Saturday is the most expensive at $1,040, a difference of $193.

    KAYAK's flexible dates feature shows options up to 3 days before and after your selected dates, making it easier to compare nearby fares.

  • What airlines fly from Madrid to Panama City?

    2 airlines operate flights between Madrid and Panama City. The airlines offering nonstop flights on this route include:

    • Air Europa
    • Iberia

  • How much time can I save by choosing a different layover airport from Madrid to Panama City?

    Flying via Bogotá El Dorado (BOG) gives the shortest average 1-stop total travel time at 14h 27m, compared with 15h 38m via Paris Charles de Gaulle (CDG) and 16h 11m via San José Juan Santamaria Intl (SJO).

  • What is the time difference between Madrid and Panama City?

    Panama City is 7 hours behind Madrid (Eastern Time vs Central European Time). Plan for the time shift when scheduling connections or first-day activities.

  • What popular places can I visit in Panama City?

    Some of the most popular sights in Panama City are ATLAPA Conventions Center, Panama Old Cathedral and Veneto Casino. These are among the most viewed places in Panama City on KAYAK.

  • Which airlines offer extra legroom and free seat selection on Madrid to Panama City flights?

    Among airlines operating Madrid to Panama City flights:

    • Air Europa: offers extra legroom; offers free seat selection
    • Iberia: offers free seat selection
    • Copa Airlines: offers free seat selection

    Extra legroom and free seat selection availability depends on fare class and route.

  • Which airlines include bags at no extra cost on Madrid to Panama City flights?

    Here are some options for this route, based on selected ticket types and cabin classes:

    • Air Europa: a cabin bag and a checked bag in Economy Class
    • Iberia: a cabin bag and a checked bag in Economy Class
    • Copa Airlines: a cabin bag and a checked bag in Economy Class

    Bag allowance can vary by ticket type, cabin class, route and airline, so always check the fare details before booking.

Your guide to booking Madrid to Panama City flights

Get tips on when to book, when to fly and what to know before your trip.
  • If your dates are flexible, aim for a Wednesday departure and avoid flying on Saturday. On this route, Wednesday flights average $847, about $193 less than Saturday fares (19% savings) based on the last 12 months.
  • For the best chance at a low fare, aim to book around 13 weeks before you fly. On this route, that window historically saves about 25% versus last-minute pricing (KAYAK booking data, last 12 months).
  • If you can choose when to travel, plan your Madrid to Panama City trip for April. Fares historically average $748 round-trip in that month - typically $508 less than the most expensive month, which is November (based on the last 12 months).
  • For the best chance of arriving on time, fly with Iberia. Over the past three months, 73% of Iberia flights from Madrid to Panama City arrived on time, slightly above the route average of 73%. When flights on this route arrive late, they're delayed by an average of 2h 29m, so choosing an airline with strong on-time performance can make a difference if you're on a tight schedule.
  • If you have the time, taking a 1-stop flight through Atlanta Hartsfield-Jackson Airport (ATL) can be cheaper than flying direct. The cheapest layover option averages $767 round-trip on this route - about $113 less than direct flights (based on the last 12 months).
  • If you're arriving late at night and need somewhere to stay, check out these hotels close to Panama City Tocumen Intl Airport.

    • Riande Aeropuerto Hotel & Casino

Prefer to fly direct from Madrid to Panama City?

 
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

Air Europa

Tuesday

Air Europa

Air Europa

Wednesday

Air Europa,Iberia

Air Europa,Iberia

Thursday

Air Europa

Air Europa

Friday

Air Europa,Iberia

Air Europa,Iberia

Saturday

Air Europa

Air Europa

Sunday

Air Europa,Iberia

Air Europa,Iberia

See more direct flights

Direct returns

Panama City Tocumen Intl to Madrid Barajas

Monday

Air Europa

Air Europa

Tuesday

Air Europa

Air Europa

Wednesday

Air Europa,Iberia

Air Europa,Iberia

Thursday

Air Europa

Air Europa

Friday

Air Europa,Iberia

Air Europa,Iberia

Saturday

Air Europa

Air Europa

Sunday

Air Europa,Iberia

Air Europa,Iberia

See more direct flights

More options for your flight from Madrid to Panama City

Complete your trip to Panama City with a hotel stay or car rental