Cheap flights from Madrid to Panama City

Adolfo Suárez Madrid-Barajas
MAD
Tocumen
PTY

Flight deals from Madrid to Panama City

Below you can see the best deals on flights Madrid — Panama City for upcoming dates. Direct and connecting flights from various airlines — compare prices and choose the right ticket.

The lowest price for the next 2 months is on 6 September, from $388.

Top 10 cheap flights from Madrid to Panama City

AV
AV
$ 391

Madrid — Panama City

20:05—01:55
6 Sep 2026
36 h 50 m
1 stop
AV
AV
$ 506

Madrid — Panama City

20:05—01:55
6 Sep 2026
36 h 50 m
1 stop
E9
AV
$ 524

Madrid — Panama City

14:20—14:55
25 Aug 2026
31 h 35 m
1 stop
E9
AV
$ 524

Madrid — Panama City

14:20—14:55
25 Aug 2026
55 h 35 m
1 stop
E9
AV
$ 524

Madrid — Panama City

18:30—14:55
3 Sep 2026
27 h 25 m
1 stop
E9
AV
$ 524

Madrid — Panama City

18:30—14:55
3 Sep 2026
51 h 25 m
1 stop
E9
AV
$ 524

Madrid — Panama City

15:25—14:55
29 Aug 2026
30 h 30 m
1 stop
E9
AV
$ 524

Madrid — Panama City

18:30—14:55
27 Aug 2026
27 h 25 m
1 stop
E9
AV
$ 524

Madrid — Panama City

18:30—14:55
27 Aug 2026
51 h 25 m
1 stop
E9
AV
$ 524

Madrid — Panama City

15:25—14:55
12 Sep 2026
30 h 30 m
1 stop

Prices were found in the last 72 hours and may change — check the exact price when you continue.

About the Madrid — Panama City flight

Looking for cheap flights from Madrid to Panama City? Compare fares from different airlines, check the flight schedule and travel time — and book your Madrid — Panama City ticket online at the best price.

The route has direct flights — around 30 flights per week, flights are operated by Air Europa, Iberia, Copa Airlines, Etihad and 2 more airlines, a nonstop flight takes about 10 h 35 min, the distance between the cities is around 8,169 km.

Planning your trip? You may find our Panama City travel guide, how to get from the airport into town and Panama City weather forecast useful. To catch a low fare, use the low-price calendar and the monthly price chart on this page.

Facts about this route

from $343Min. price
MayCheapest
JulyPeak season
YesDirect flights
8,169 kmDistance
10 h 35 minTravel time
6Airlines
30 / wkFlights

Flight schedule from Madrid to Panama City

The table shows direct flights from Madrid to Panama City on the selected date. The flight takes approximately 10 h 35 min. Regular flights are operated by Air Europa, Iberia, Copa Airlines and Etihad. Departures from Adolfo Suárez Madrid-Barajas Airport airports, arrivals at Tocumen International Airport and Marcos A. Gelabert International Airport.

For each flight, the following details are shown: departure time (local), arrival city and airport, flight number and airline, terminal or gate, and status. Click on a flight to open its details and go to ticket search. To view flights on a different day, change the date above the table.

Today
Any time
Last update: 13 Aug 2026

Flight ticket prices by day: Madrid — Panama City

Below is a calendar of the lowest flight ticket prices for Madrid — Panama City by day. Pick a convenient date and instantly see the fare. The cheapest flights on this route start from $343 in May, and the most expensive are around $776 in July. If your travel dates are flexible, the calendar will help you find the best price for your preferred period. To view round-trip fares, switch to the "Round trip" tab above the calendar, select your departure date — and the right-hand calendar will highlight the lowest prices for return flights on each day.

 
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Prices by month

Average one-way fares from Madrid to Panama City by month. Tickets are usually cheapest in October (around $870) and priciest in December (about $1,136) — use the table and chart below to pick the best time to fly.

MonthAverage priceLevelMonthAverage priceLevelMonthAverage priceLevel
Jan$1,112highMay$943mediumSep$894low
Feb$1,088highJun$967mediumOct$870low
Mar$1,064highJul$1,088highNov$943medium
Apr$991mediumAug$1,112highDec$1,136high

Some values are estimated based on seasonality.

When to fly

Weather in Panama City: it is warmest in March (up to 30 °C on average) and coolest in November (around 28 °C). The driest month is February.

Tickets are usually cheapest in May and most expensive in July. Compare prices and weather by month in the charts below to pick the best time to fly.

Temperature · Panama City

Dry and wet days · Panama City

Wind speed and direction · Panama City

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How to get the best deal on a Madrid — Panama City ticket

  • Book ahead: fares for Madrid — Panama City are usually lower 3–8 weeks before departure than at the last minute.
  • Play with your dates — Tuesday, Wednesday and Saturday departures are often cheaper than Friday and Sunday.
  • Flights Madrid — Panama City operate on Tuesdays and Saturdays — keep that in mind when picking your travel dates.
  • The cheapest month to fly to Panama City is usually May — plan your trip around it if your dates are flexible.
  • Compare direct and connecting flights: nonstop is faster, while a connection is sometimes noticeably cheaper.
  • Watch the low-price calendar and the monthly price trend on this page — they make it easier to catch a good date.
  • Travelling light? Pick a cabin-baggage-only fare — tickets without checked luggage are noticeably cheaper.
  • Get to the airport in good time — about 2–3 hours before an international departure and roughly an hour before a domestic one.

Airlines

Flights on the Madrid — Panama City route are operated by 6 airlines; Air Europa runs the most flights (around 47% of all flights). Compare carriers, flight shares and schedules below.

  • Air EuropaUX
    5x/week
    WebsiteFleet: 5011.5M pax/year
    • Direct flight MAD → PTY5x/week
      Duration
      10h 35m
      Days
      MTWTFSS
    46.7%Open →
  • IberiaIB
    4x/week
    WebsiteFleet: 9224M pax/year
    • Direct flight MAD → PTY4x/week
      Duration
      11h 5m
      Days
      MTWTFSS
    40.0%Open →
  • Copa AirlinesCM
    1x/week
    WebsiteFleet: 10316.1M pax/year
    • Direct flight MAD → PTY1x/week
    3.3%Open →
  • EtihadEY
    1x/week
    WebsiteFleet: 9714M pax/year
    • Direct flight MAD → PTY1x/week
    3.3%Open →
  • Hainan AirlinesHU
    1x/week
    WebsiteFleet: 22457M pax/year
    • Direct flight MAD → PTY1x/week
    3.3%Open →
  • China EasternMU
    1x/week
    WebsiteFleet: 803116M pax/year
    • Direct flight MAD → PTY1x/week
    3.3%Open →

Cities and airports on the Madrid — Panama City route

Flights Madrid — Panama City depart from Adolfo Suárez Madrid-Barajas Airport and arrive at Tocumen International Airport and Marcos A. Gelabert International Airport. Below are pages for the cities, countries, and airports on the route: airlines, schedules, and travel guides.

Departure

Madrid

MAD
Spain
About the cityHow to get thereWeatherAll about the country Spain
Arrival

Panama City

PTY
Panama
About the cityHow to get thereWeatherAll about the country Panama
Departure airports
Arrival airports

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Frequently asked questions about the Madrid — Panama City flight

How long is the flight from Madrid to Panama City?

A nonstop Madrid — Panama City flight takes about 10 h 35 min — the distance between the cities is around 8,169 km.

How far is it from Madrid to Panama City?

The distance from Madrid to Panama City is about 8,169 km, which a nonstop flight covers in around 10 h 35 min.

Are there direct flights from Madrid to Panama City?

Yes, there are nonstop flights Madrid — Panama City — around 30 flights per week.

Which airlines fly from Madrid to Panama City?

Airlines operating Madrid — Panama City include Air Europa, Iberia, Copa Airlines, Etihad, Hainan Airlines. See the full list with schedules in the "Airlines" section on this page.

Which airports do Madrid — Panama City flights use?

Flights from Madrid depart from Adolfo Suárez Madrid-Barajas Airport, and arrive at Tocumen International Airport, Marcos A. Gelabert International Airport. If a city has more than one airport, check which one your ticket uses before you travel.

How much is a ticket from Madrid to Panama City?

The price of a Madrid — Panama City ticket depends on your travel date, season and demand: it is usually cheapest to fly in May, and most expensive in July. Tickets typically cost between $343 and $776. Check the current lowest fare and low-price calendar on this page.

When is the best time to book flights Madrid — Panama City?

Flights Madrid — Panama City are usually cheaper when booked in advance — a few weeks before departure and away from peak dates; the most budget-friendly month to fly is May. Compare prices by month in the price trend chart on this page.

How can I find the cheapest flights from Madrid to Panama City?

To catch a low fare Madrid — Panama City, book a few weeks in advance, keep your dates flexible, and compare airlines and connecting options. The low-price calendar and monthly price chart on this page show the cheapest days and months at a glance: the most budget-friendly month to fly is usually May.

How early should I arrive at the airport?

For international flights, plan to be at the airport about 2–3 hours before departure, and around an hour before a domestic flight. Allow extra time during busy travel seasons and at large hubs, where check-in and security lines can be longer.

Where else you can fly from Madrid

See all
Santa Cruz de TenerifeLondonParisPalmaLisbonBarcelonaLas PalmasRomeIbizaMilanAmsterdamMunichPortoBilbaoFrankfurt am MainMalagaBrusselsVigoNew York CityGenevaA CoruñaZurichBogotaOviedoSevilleAlicanteVeniceArrecifeValenciaSao PauloIstanbulAthensMahonDusseldorfLimaBerlinCasablancaBuenos AiresTel AvivCopenhagen

Where else you can fly from Panama City

See all
BogotaMedellínSan JoséMiamiPunta CanaMexico CityNew York CityLimaOrlandoCancunQuitoBuenos AiresSantiagoGuayaquilGuatemala CitySao PauloSanto DomingoSan SalvadorCordobaCaliCartagenaWashington, D.C.Los AngelesHavanaChicagoDavidHoustonCaracasRio de JaneiroMontevideoAsunciónManaguaSan JuanTorontoTegucigalpaWillemstadAtlantaOranjestadPereiraTampa

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