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Cheap flights from Madrid to Panama City

Recently found return fares from $306, with March the cheapest month we know of. Compare dates, then book with the partner you choose.

Cheapest months to fly

Lowest recently found return fare in each month. Tap a month to see that month's calendar.

$642 Oct2026 $642 Nov2026 $665 Dec2026 $384 Jan2027 $375 Feb2027 $306 Mar2027 $328 Jun2027

Madrid → Panama City

November 2026

Mon Tue Wed Thu Fri Sat Sun 1 2 3 4 $774 5 $674 6 7 8 9 10 11 12 13 14 $642 15 16 17 18 19 20 $662 21 22 23 24 25 26 27 28 29 30
LowerHigherLowest this month

Lowest fares for the best day

  • IberiaSun 8 Nov – Wed 25 Nov · 1 stop · 13h 32m $982
  • Air FranceThu 12 Nov – Thu 26 Nov · 1 stop · 13h 35m $986
  • American AirlinesFri 20 Nov – Fri 27 Nov · 1 stop · 12h 58m $996
See all flights for these dates

Airport in Panama City

  • PTYTocumen

Airport in Madrid

  • MADBarajas

Watch this route

MAD
PTY

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More trips from Madrid

All flights from Madrid Panama City to Madrid flights
Palma de Mallorcafrom $35 Milanfrom $39 Tenerifefrom $62 Londonfrom $87 Barcelonafrom $88 Lisbonfrom $90 Budapestfrom $91 Las Palmasfrom $100

FAQ

Questions about this route

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Help center Contact us
01What is the cheapest month to fly from Madrid to Panama City?

Based on recently found fares, March 2027 has the lowest price we know of, from $306. Prices change often, so check the calendar for current fares.

02Are the prices on this page final?

No. They are recently found fares. When you open a deal, the partner shows the live price, including taxes and fees, before you pay.

03How can I get an alert when flights to Panama City get cheaper?

Use the price alert on this page. Choose your dates or a whole month and we will email you when the fare drops.