PTY - MAD

$640 Find Cheap Flights from Panama City to Madrid - Compare and Save

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Everything you should know

Cheapest round-trip
$746
Typical prices: $731-$992
Iberia
Sat 2/10Sat 2/24
PTY - MAD • Non-stop
Cheapest one-way
$640
Typical prices: $619-$807
Iberia
Tue 9/11
PTY - MAD • Non-stop
Nonstop flights
You can fly direct with Air Europa and Iberia. Average duration is 9h 53m
Direct flights
+1
Direct flights
+1
Avoid delays
Most punctual • 91% on-time
Best time • Fewest delays
Insights
Insights
When to book
in advance
Our data shows that travelers who book at least 21 weeks in advance save around 28% compared to booking last minute.
Insights
Insights
When to travel
Cheapest • 10% price drop
Most popular
Good to know
+1
Good to know
+1
Top layover airports
Cheapest • Avg $807 (round-trip)
Shortest trip • 15h 58m (one-way)
Insights
Insights
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We hope you love your trip to Madrid!
Flight Deals
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Expert advice
Flight Deals

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

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

Recent round-trip flight deals from Panama City to Madrid

Wed, Feb 10 - Wed, Feb 24
Iberia Logo
6:35 pm - 10:40 amPTY  Panama City Tocumen Intl-MAD Madrid Barajas
10h 05mnonstop
Iberia Logo
12:00 pm - 5:05 pmMAD  Madrid Barajas-PTY Panama City Tocumen Intl
11h 05mnonstop
$746Iberia
Tue, Dec 29 - Thu, Feb 4
Avianca Logo
2:55 am - 11:20 pmPTY  Panama City Tocumen Intl-MAD Madrid Barajas
14h 25m1 stop Bogotá El Dorado
Avianca Logo
4:20 pm - 8:50 amMAD  Madrid Barajas-PTY Panama City Tocumen Intl
22h 30m1 stop Bogotá El Dorado
$750Avianca
Sat, Jan 30 - Tue, Feb 9
Avianca Logo
5:50 pm - 11:20 pmPTY  Panama City Tocumen Intl-MAD Madrid Barajas
23h 30m1 stop Bogotá El Dorado
Avianca Logo
6:35 am - 4:55 pmMAD  Madrid Barajas-PTY Panama City Tocumen Intl
16h 20m1 stop Bogotá El Dorado
$750Avianca
Wed, Sep 23 - Thu, Oct 1
Air France Logo
2:23 pm - 12:15 pmPTY  Panama City Tocumen Intl-MAD Madrid Barajas
14h 52m1 stop Atlanta Hartsfield-Jackson
Air France Logo
6:00 am - 7:45 pmMAD  Madrid Barajas-PTY Panama City Tocumen Intl
20h 45m1 stop Paris Charles de Gaulle
$757Air France
Fri, Sep 11 - Thu, Sep 17
Multiple Airlines Logo
2:23 pm - 12:15 pmPTY  Panama City Tocumen Intl-MAD Madrid Barajas
14h 52m1 stop Atlanta Hartsfield-Jackson
Multiple Airlines Logo
6:00 am - 7:45 pmMAD  Madrid Barajas-PTY Panama City Tocumen Intl
20h 45m2 stops Amsterdam Schiphol Paris Charles de Gaulle
$761Multiple Airlines
Wed, Sep 23 - Thu, Oct 1
Multiple Airlines Logo
2:23 pm - 12:15 pmPTY  Panama City Tocumen Intl-MAD Madrid Barajas
14h 52m1 stop Atlanta Hartsfield-Jackson
Multiple Airlines Logo
6:00 am - 7:45 pmMAD  Madrid Barajas-PTY Panama City Tocumen Intl
20h 45m2 stops Amsterdam Schiphol Paris Charles de Gaulle
$761Multiple Airlines
Sun, Oct 18 - Sat, Nov 21
United Airlines Logo
3:30 pm - 9:00 amPTY  Panama City Tocumen Intl-MAD Madrid Barajas
34h 30m2 stops Houston George Bush Intcntl Newark
United Airlines Logo
11:00 am - 2:45 pmMAD  Madrid Barajas-PTY Panama City Tocumen Intl
33h 45m2 stops Washington, D.C. Dulles Intl Houston George Bush Intcntl
$762United Airlines
Sun, Oct 18 - Sat, Nov 21
United Airlines Logo
9:45 am - 9:00 amPTY  Panama City Tocumen Intl-MAD Madrid Barajas
16h 15m1 stop Newark
United Airlines Logo
11:00 am - 2:45 pmMAD  Madrid Barajas-PTY Panama City Tocumen Intl
33h 45m2 stops Washington, D.C. Dulles Intl Houston George Bush Intcntl
$762United Airlines
Sun, Jan 24 - Sun, Feb 21
Iberia Logo
6:35 pm - 10:40 amPTY  Panama City Tocumen Intl-MAD Madrid Barajas
10h 05mnonstop
Iberia Logo
12:00 pm - 5:05 pmMAD  Madrid Barajas-PTY Panama City Tocumen Intl
11h 05mnonstop
$764Iberia
Wed, Sep 30 - Tue, Oct 13
Air France Logo
2:23 pm - 12:15 pmPTY  Panama City Tocumen Intl-MAD Madrid Barajas
14h 52m1 stop Atlanta Hartsfield-Jackson
Air France Logo
10:05 am - 7:45 pmMAD  Madrid Barajas-PTY Panama City Tocumen Intl
16h 40m1 stop Paris Charles de Gaulle
$771Air France
Booking Insights

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

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

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

Round-trip flights from Panama City to Madrid start at $746. Prices are typical for this route right now, with typical round-trip fares ranging from $731 to $992. The lowest price found in the past 5 days was $746 on Iberia.

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

Tuesday is the cheapest day of the week to fly from Panama City to Madrid, it is 3% cheaper than the average day. Saturday is the most expensive day with flight prices 3% higher than average. Based on deals found by KAYAK users in the last 12 months.

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

  • February is the cheapest month to fly from Panama City to Madrid at $750 round-trip.
  • December ($978) and July ($976) are the most expensive months.
  • The price difference between flying in the cheapest and most expensive months is 30% on average.
This is based on KAYAK aggregated and averaged internal data over the past 12 months.

When are prices from Panama City to Madrid the cheapest?

Flights from Panama City to Madrid are cheapest 21 weeks before departure. Booking in this window typically costs about 28% 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 Panama City to Madrid

 
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 Panama City to Madrid flights

Low season

July

Cheapest flight

$640
Best time to beat the crowds but there is an average 17% increase in price.
Most popular time to fly and prices are also 8% lower on average.
Flight from Panama City to Madrid

When to book flights from Panama City to Madrid

Are your dates flexible? Find out the best times to travel from Panama City to Madrid based on our flight data from the last year. Discover the cheapest month and even day to fly.
Estimated round-trip price

Your Panama City to Madrid flight questions, answered

Find helpful route details based on KAYAK data, including flight times, airports, airlines and booking questions.

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

    Among airlines operating Panama City to Madrid 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.

  • What airlines are available from Panama City to Madrid?

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

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

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

  • Which airlines include bags at no extra cost on Panama City to Madrid 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 travelers should check the fare details before booking.

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

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

    • Economy Class
    • Premium Economy Class
    • Business Class

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

    On this route, layover flights are cheaper than nonstop options on average. Layover fares average $807 round-trip via Bogotá El Dorado (BOG), compared to $842 for nonstop.

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

    There is no standard. Checked-bag policies vary by airline on this route. Most carriers charge $67–$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 Panama City to Madrid?

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

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

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

    • Bogotá El Dorado (BOG) - 62% of one-stop connections
    • Amsterdam Schiphol (AMS) - 12% of one-stop connections
    • Istanbul (IST) - 12% of one-stop connections
    • Newark (EWR) - 6% of one-stop connections

    Bogotá El Dorado (BOG) handles the largest share of one-stop connections on this route.

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

    Yes. Being flexible with your travel dates can save you up to 6% on the Panama City to Madrid route. Tuesday is the cheapest departure day at $815 round-trip on average, while Saturday is the most expensive at $867, a difference of $52. KAYAK's flexible dates feature shows options up to 3 days before and after your selected dates, making it easier to compare nearby fares.

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

    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 Panama City to Madrid route, 12% of flights were delayed in the past 3 months, with delays averaging 2 hours 38 minutes.

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

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

  • What popular places can I visit in Madrid?

    Some of the most popular sights in Madrid are Madrid City Centre, Plaza Mayor and Puerta del Sol. These are among the most viewed places in Madrid on KAYAK.

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

    A nonstop flight from Panama City to Madrid takes 9h 53m, covering 5,065 miles.

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

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

    • Earliest: departs at 6:35 pm and lands at 4:28 am
    • Latest: departs at 9:30 pm and lands at 7:23 am.

    The flight takes about 9h 53m.

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

    Last-minute fares on this route - booked within 2 weeks of departure - run 24% above the route average of $836. Book 21 weeks before departure for the lowest fares.

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

    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.

  • Have flight prices from Panama City to Madrid 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 $746 to $5,037. That means the highest observed fare was about 7x higher than the lowest one.

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

    One-way fares from Panama City to Madrid are currently lower than usual. Average one-way flight prices are about $657, which is 5% below the typical average for this route.

  • How do delay rates compare for morning and evening flights from Panama City to Madrid?

    Evening flights have the fewest delays on this route. Delays tend to pile up throughout the day as one late flight pushes the next, so earlier departures are usually more reliable.

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

    Flying via Bogotá El Dorado (BOG) gives the shortest average 1-stop total travel time at 14h 14m, compared with 15h 58m via San José Juan Santamaria Intl (SJO) and 16h 05m via Washington, D.C. Dulles Intl (IAD).

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

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

  • What car rental options are available at Madrid Barajas Airport (MAD)?

    Madrid Barajas Airport (MAD) hosts 5 major car rental companies, with daily rates starting from around $2 for economy cars. Top options include:
    · Record go
    · Goldcar Rental SP
    · CLICK RENT
    · Alamo
    · Centauro

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

    Round-trip flights from Panama City to Madrid range from $731 to $992, with an average of $836 over the past 12 months. Anything below $731 counts as a good deal.

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

    Iberia is the only airline on the Panama City to Madrid route offering in-flight Wi-Fi. Pricing depends on fare class.

Your guide to booking Panama City to Madrid flights

Get tips on when to book, when to fly and what to know before your trip.
  • If your dates can be flexible, aim for a Tuesday departure instead of Saturday. On this route, Tuesday flights average $815 - about $52 less than Saturday (6% savings) based on the last 12 months.
  • For the best chance at a low fare, aim to book around 21 weeks before you fly. On this route, that window historically saves about 28% versus last-minute pricing (KAYAK booking data, last 12 months).
  • If you can choose when to travel, plan your Panama City to Madrid trip for February. Fares historically average $750 round-trip in that month - typically $228 less than the most expensive month, which is December (based on the last 12 months).
  • If arriving on time is high on your priority list, Air Europa is the strongest pick on this route. 91% of Air Europa flights from Panama City to Madrid arrived on time in the past 3 months, slightly above the route's average on-time arrival rate of 88%. When flights on this route do arrive late, the average delay is 2 hours 38 minutes, so choosing a carrier with strong on-time performance can make a difference on tight schedules.
  • If you have the time, taking a 1-stop flight through Bogotá El Dorado Airport (BOG) can be cheaper than flying direct. The cheapest layover option averages $807 round-trip on this route - about $36 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 Madrid Barajas Airport.
    - Senator Barajas Hotel
    - Clement Barajas
    - ibis Styles Madrid Airport Valdebebas

Prefer to fly direct from Panama City to Madrid?

 
Find which airlines fly direct from Panama City Tocumen Intl Airport to Madrid Barajas Airport, which days they fly and book direct flights.

Direct departures

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

Air Europa

Sunday

Air Europa,Iberia

Air Europa,Iberia

See more direct flights

Direct returns

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

Air Europa

Sunday

Air Europa,Iberia

Air Europa,Iberia

See more direct flights

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

Information on your arrival and departure airports