MAD - PTY

$348 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 2/23. 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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Everything you should know

Cheapest round-trip
$691
Overall average: $751
Air Europa
Sun 4/5Sat 4/18
MAD - PTY • Non-stop
Cheapest one-way
$348
Typical prices: $379-$585
Avianca
Mon 2/23
MAD - PTY • 1 stop
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 $691 (round-trip)
Iberia
Best reviews • 7.0 score
Airline reviews
Airline reviews
+1
+1
Airline reviews
Airline reviews
+1
When to book
7 weeks
in advance
Our data shows that travelers who book at least 7 weeks in advance save around 35% compared to booking last minute.
Insights
Insights
Insights
Insights
When to travel
September
Cheapest • 14% price drop
December
Most popular
Good to know
Good to know
+1
+1
Good to know
Good to know
+1
Start a new search
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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)

 
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

Sun, Apr 5 - Sat, Apr 18
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
$691Air Europa
Tue, Apr 7 - Wed, Apr 29
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
$693Air Europa
Wed, May 6 - Tue, May 26
Avianca Logo
8:10 am - 1:05 am
MAD
-
PTY
23h 55m
1 stop
Avianca Logo
3:25 am - 12:20 am
PTY
-
MAD
13h 55m
1 stop
$695Avianca
Fri, May 1 - Sun, May 17
Avianca Logo
11:05 am - 1:05 am
MAD
-
PTY
21h 00m
1 stop
Avianca Logo
5:55 pm - 12:20 am
PTY
-
MAD
23h 25m
1 stop
$698Avianca
Tue, May 5 - Thu, May 21
Avianca Logo
2:20 am - 9:15 am
MAD
-
PTY
13h 55m
1 stop
Avianca Logo
3:25 am - 12:20 am
PTY
-
MAD
13h 55m
1 stop
$700Avianca
Mon, Feb 23 - Sun, Apr 26
Avianca Logo
6:35 am - 4:55 pm
MAD
-
PTY
16h 20m
1 stop
Avianca Logo
3:05 am - 6:10 am
PTY
-
MAD
20h 05m
1 stop
$708Avianca
Mon, Jun 1 - Mon, Jun 15
KLM Logo
5:20 pm - 4:50 pm
MAD
-
PTY
30h 30m
1 stop
KLM Logo
6:50 pm - 11:25 pm
PTY
-
MAD
21h 35m
1 stop
$709KLM
Wed, Mar 11 - Mon, May 11
Avianca Logo
10:50 am - 12:40 am
MAD
-
PTY
19h 50m
1 stop
Avianca Logo
10:10 am - 9:05 am
PTY
-
MAD
15h 55m
1 stop
$712Avianca
Mon, Jun 1 - Mon, Jun 15
Multiple Airlines Logo
12:20 pm - 7:45 pm
MAD
-
PTY
14h 25m
1 stop
Multiple Airlines Logo
6:50 pm - 12:10 pm
PTY
-
MAD
34h 20m
1 stop
$713Multiple Airlines
Tue, Apr 21 - Sat, May 9
Avianca Logo
11:05 am - 1:05 am
MAD
-
PTY
21h 00m
1 stop
Avianca Logo
3:10 pm - 12:20 am
PTY
-
MAD
26h 10m
1 stop
$714Avianca
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 Saturday 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 September, where tickets cost $714 (return) on average. On the other hand, the most expensive months are December and August, where the average cost of round-trip tickets is $1,094 and $1,006 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 7 weeks before departure, which saves you about 35% compared to booking last minute. For the absolute cheapest price, our data suggests you should book 26 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.
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.

Good to know

Low seasonJanuary
Cheapest flight$348
Best time to beat the crowds but there is an average 8% increase in price.
Most popular time to fly with an average 31% 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 $348 for a one-way ticket and $691 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, Iberia or Air Europa?

    The two airlines most popular with KAYAK users for flights from Madrid to Panama City are Iberia and Air Europa. With an average price for the route of $997 and an overall rating of 7.0, Iberia is the most popular choice. Air Europa is also a great choice for the route, with an average price of $884 and an overall rating of 6.9.

  • 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 $744 or less one-way and $940 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, Iberia

Air Europa, Iberia

Saturday

Air Europa, Iberia

Air Europa, Iberia

Sunday

Air Europa, Iberia

Air Europa, Iberia

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, Iberia

Air Europa, Iberia

Saturday

Air Europa, Iberia

Air Europa, Iberia

Sunday

Air Europa, Iberia

Air Europa, Iberia

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
IberiaOverall score based on 3113 reviews
7.2Boarding
7.7Crew
6.6Entertainment
6.4Food
6.8Comfort
Airline reviews

30 minutes still don't have gate number, ask many people can't get answer.

2.0 Mediocrepofeng, Jan 2026
MAD - NAP
Read more Iberia reviews

30 minutes still don't have gate number, ask many people can't get answer.

The boarding procedure got confusing because they wanted to weigh everyone’s carry-on. Apparently mine was 3 1/2 kg over their limit. I didn’t know they had a limit. And at the check-in desk, nothing was said about this. They wanted me to check the carry-on at no charge and that would have been fine except then they told me at my connection in London I would have to go outside to baggage claim retrieve my bag, and then recheck it. In other words, they could not check it to my final destination, only to London. I told him this was unacceptable so after a few minutes of discussion, they came back and said that my bag would be OK to carry on the plane. It seems that if you have a connection then the weight is not as important. Then when I actually went to board the boarding agent said I needed a tag indicating that my bag had been weighed, even though she had just five minutes ago talked to the same person who cleared me. Lots of confusion seems like a very bad process. They need to improve this.

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.

I flew in business a couple of months ago, it was great, tried again in economy, it is the cramped seat I have ever been into, for an overseas flight across the atlantic it is inhumane to put passengers in such cramped space. Other than that, everything ok. Took a second flight from Madrid to London, also economy and it was roomy and perfect.

No WiFi on the plane. Crew was insensitive to my medical supplies and medicine in my carry on. If the crew was monitoring passengers putting 2 bags in overhead bins there would be room. We sat for 2 hours extra. Iberojet is horrible never again.

There was no water in one of the sinks in the executive area, which is unacceptable as we could not wash our hands after using the restroom

Like I said the experience was mediocre. Nothing special about this airline.

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.

Horrible experience with Avianca, they delayed their flight and when we arrived to NYC, AVIANCA took 1 hr y 30 mins to park the airplane and all passenger get off the plane, it made me lost all my trains to get back home and I came back to my place at 3 am instead of 12 am. On the top of that their plane seat are so uncomfortable and is not enough space and killed my legs and knees, Avianca used to be good when it was a Colombian company, now after Brasilian company bought them, their service quality is bad and their flights are delayed and oversold.

It was delayed and I lost my connection flight to Cali and I missed my Mom's funeral

I upgraded to businesses class. Because of that the flight was comfortable.

I actually upgraded to the medium level of seats from basic and even doing that it may have been physically the most uncomfortable flight I have ever had. They packed everyone like is a train to death camp. It was a red eye so I hoped to get some sleep but it was physically impossible to find a comfortable way to rest. I met other folks on the same flight and they said the same thing. It was an utterly miserable flight and if I have any other options I will never fly with them again

only a bag of chips and a bottle of water in business class was served

Avianca has transitioned from full service legacy airline to "low cost" but has now became a strange hybrid (minimum leg space, started offering business class in domestic flights again, charges passenger for printing boarding pass, etc.). National and international coverage and destinations are really wide but service is not at its best

We found the chairs to be really uncomfortable. It’s also really unacceptable that no form of food or drink is included in a 6+ hour flight

Not good, tried to purchase a first class upgrade and they couldn’t get it done. Was super uncomfortable the whole time.

Deplaning was a mess, I sat in business (seats are horrible) and the front door had a problem so we had to deplane from the rear exit. The stairs were not tall enough to reach so there was a large step down from the plane to the top of the stairs.

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

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

Information on your arrival and departure airports