MAD - PTY

£330 Find Cheap Flights from Madrid to Panama City – Compare and Save

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Everything you should know

Cheapest return flight
£513
Typical prices: £570-£854
Avianca
Thu 25/1Thu 8/2
MAD - PTY • 1 stop
Cheapest direct flights
£567
Typical prices: £565-£798
Iberia
Sat 3/2Sat 7/4
MAD - PTY • Direct
Direct 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 travellers 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 stopover airports
Cheapest • Avg £574 (return)
Shortest trip • 14h 27m (one-way)
Insights
Insights
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We hope you enjoy 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 return flight deals from Madrid to Panama City

Mon, 25 Jan - Mon, 8 Feb
Avianca Logo
08:10 - 17:15MAD  Madrid Barajas-PTY Panama City Tocumen Intl
15h 05m1 stop Bogotá El Dorado
Avianca Logo
18:10 - 13:25PTY  Panama City Tocumen Intl-MAD Madrid Barajas
13h 15m1 stop Bogotá El Dorado
£513Avianca
Mon, 12 Apr - Sun, 18 Apr
Multiple Airlines Logo
06:00 - 19:45MAD  Madrid Barajas-PTY Panama City Tocumen Intl
20h 45m2 stops Amsterdam Schiphol Paris Charles de Gaulle
Multiple Airlines Logo
18:50 - 19:15PTY  Panama City Tocumen Intl-MAD Madrid Barajas
17h 25m2 stops Amsterdam Schiphol Paris Charles de Gaulle
£518Multiple Airlines
Sun, 11 Apr - Sun, 18 Apr
Multiple Airlines Logo
06:00 - 19:45MAD  Madrid Barajas-PTY Panama City Tocumen Intl
20h 45m2 stops Amsterdam Schiphol Paris Charles de Gaulle
Multiple Airlines Logo
18:50 - 19:15PTY  Panama City Tocumen Intl-MAD Madrid Barajas
17h 25m2 stops Amsterdam Schiphol Paris Charles de Gaulle
£518Multiple Airlines
Tue, 13 Apr - Sun, 18 Apr
Multiple Airlines Logo
06:00 - 19:45MAD  Madrid Barajas-PTY Panama City Tocumen Intl
20h 45m2 stops Amsterdam Schiphol Paris Charles de Gaulle
Multiple Airlines Logo
18:50 - 19:15PTY  Panama City Tocumen Intl-MAD Madrid Barajas
17h 25m2 stops Amsterdam Schiphol Paris Charles de Gaulle
£518Multiple Airlines
Wed, 3 Feb - Wed, 7 Apr
Iberia Logo
12:00 - 17:05MAD  Madrid Barajas-PTY Panama City Tocumen Intl
11h 05mdirect
Iberia Logo
21:30 - 14:20PTY  Panama City Tocumen Intl-MAD Madrid Barajas
9h 50mdirect
£567Iberia
Mon, 12 Apr - Mon, 19 Apr
Air Europa Logo
15:05 - 18:40MAD  Madrid Barajas-PTY Panama City Tocumen Intl
10h 35mdirect
Air Europa Logo
20:25 - 13:15PTY  Panama City Tocumen Intl-MAD Madrid Barajas
9h 50mdirect
£582Air Europa
Fri, 26 Feb - Mon, 8 Mar
Air Europa Logo
15:10 - 19:45MAD  Madrid Barajas-PTY Panama City Tocumen Intl
10h 35mdirect
Air Europa Logo
21:30 - 13:05PTY  Panama City Tocumen Intl-MAD Madrid Barajas
9h 35mdirect
£582Air Europa
Sun, 4 Apr - Sun, 18 Apr
Air Europa Logo
15:05 - 18:40MAD  Madrid Barajas-PTY Panama City Tocumen Intl
10h 35mdirect
Air Europa Logo
20:25 - 13:15PTY  Panama City Tocumen Intl-MAD Madrid Barajas
9h 50mdirect
£590Air Europa
Wed, 10 Mar - Fri, 2 Apr
Iberia Logo
12:00 - 17:05MAD  Madrid Barajas-PTY Panama City Tocumen Intl
11h 05mdirect
Iberia Logo
21:30 - 14:20PTY  Panama City Tocumen Intl-MAD Madrid Barajas
9h 50mdirect
£628Iberia
Wed, 10 Mar - Fri, 2 Apr
Iberia Logo
12:00 - 17:05MAD  Madrid Barajas-PTY Panama City Tocumen Intl
11h 05mdirect
Iberia Logo
21:30 - 14:20PTY  Panama City Tocumen Intl-MAD Madrid Barajas
9h 50mdirect
£629Iberia
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 return flight from Madrid to Panama City?

Return flights from Madrid to Panama City typically range from £570 to £854. The lowest price found in the past 5 days was £513 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 is the cheapest month to fly from Madrid to Panama City?

•April is the cheapest month to fly from Madrid to Panama City at £560 return.
•November (£940) and December (£888) 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, specialising in airline interiors and regulations. 10 years ago, she pivoted to journalism. She shares her insights in leading aviation, travel and business publications and on her site, FlightChic.

Key details for Madrid to Panama City flights

Low season

September

Cheapest flight

£330
Beat the crowds with an average 27% drop in traveller numbers.
The most popular month to fly with an average 29% increase in traveller numbers.
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 return 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 and lands at 22:44
    • Latest: departs at 15:10 and lands at 01:54.

    The flight takes about 10h 44m.

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

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

    • Economy class
    • Business Class

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

    A direct 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?

    Return flights from Madrid to Panama City range from £570 to £854, with an average of £676 over the past 12 months. Anything below £570 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 £676 route average. Book 13 weeks before departure for the lowest fares.

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

    On this route, stopover flights are cheaper than direct options on average. Stopover fares average £574 return via Atlanta Hartsfield-Jackson (ATL), compared with £659 for direct.

  • 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 £51–£75 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% 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, return flight prices on this route showed a wide range, from about £513 to £4,208. 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 programme, while 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 £401, which is 9% below the typical average for this route.

  • 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 on the route 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 three 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 £634 return on average, while Saturday is the most expensive at £779, a difference of £144.

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

  • Which airlines fly from Madrid to Panama City?

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

    • Air Europa
    • Iberia

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

    Flying via Bogotá El Dorado (BOG) gives the shortest average 1-stop total travel time of 14h 27m, compared to 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 6 hours behind Madrid (Eastern Time vs Central European Time). Plan for the time shift when scheduling connections or first-day activities.

  • 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

    Baggage 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 £634, about £144 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 £560 return in that month – typically £380 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 stopover option averages £574 return on this route – about £84 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 hire