Cheap Flights from Madrid to Panama City
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Deals from
Madrid
RatePunk searches hundreds of travel sites at once for deals on flights to Panama City
Prices updated 24 days ago
486,190 searches this week
171 airlines compared
80%+ AI score for best value
Fares are subject to change and may not be available for all dates. (Data last updated May 29, 2026.)
Today’s best flight deals from Madrid to Panama City
Explore current cheapest deals departing from Madrid to Panama City
Round trip
Sort by: Cheapest
September 11 - September 27
MAD - Panama
$901
$685
Round trip
October 28 - November 8
MAD - Panama
$947
$723
Round trip
August 20 - September 2
MAD - Panama
$1,033
$771
Round trip
August 20 - September 4
MAD - Panama
$1,022
$771
Round trip
August 20 - September 5
MAD - Panama
$1,024
$771
Round trip
August 20 - September 6
MAD - Panama
$1,023
$771
Round trip
August 21 - September 2
MAD - Panama
$1,030
$771
Round trip
August 21 - September 4
MAD - Panama
$1,033
$771
Round trip
August 21 - September 5
MAD - Panama
$1,022
$771
Round trip
August 21 - September 6
MAD - Panama
$1,024
$771
Round trip
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Route Intelligence — 486,190 Searches this Week
How much is a round trip from Madrid to Panama City
Regular price: $805 - $1,418
Prices for flights from Madrid to Panama are currently below the regular range.
The regular price range for flights from Madrid to Panama is typically between $805 and $1418. The current lowest deal is $685 on Kayak, for travel from Sep 11-Sep 27.
now $685
Low $805
High $1,418
The cheapest time to fly from Madrid to Panama City
The cheapest month to fly from Madrid to ECP is July, with a median price of $1346. The most expensive month is June, with a median price of $1395. Prices are generally lower from June to July.
July
Flights from $1,346
June
Flights from $1,395
Direct flights from Madrid to Panama City
Deutsche Luft Hansa
KLM
Last-minute flights going from Madrid to Panama City
Thu, Aug 20
MAD - Panama
Madrid (MAD) - Panama (PTY)
$1,033
$771
One-way
Thu, Aug 20
MAD - Panama
Madrid (MAD) - Panama (PTY)
$1,022
$771
One-way
Thu, Aug 20
MAD - Panama
Madrid (MAD) - Panama (PTY)
$1,024
$771
One-way
Thu, Aug 20
MAD - Panama
Madrid (MAD) - Panama (PTY)
$1,023
$771
One-way
Fri, Aug 21
MAD - Panama
Madrid (MAD) - Panama (PTY)
$1,030
$771
One-way
Fri, Aug 21
MAD - Panama
Madrid (MAD) - Panama (PTY)
$1,033
$771
One-way
Biggest price drops on these dates for flights from Madrid to Panama City
Nov 3 - Nov 11
$1,125 → $782
31%
Dec 11 - Dec 31
$1,336 → $999
25%
Dec 11 - Dec 20
$1,334 → $1,036
22%
Aug 24 - Sep 2
$1,037 → $771
26%
Popular Airports to fly from Madrid to Panama City
Madrid - Panama City route insights
💸 Price insights
Recent fares are below the typical level.
Recent fares for Madrid to Panama City are below the typical level, with deals around $685.
📅 Best time to fly
Historically, July is the cheapest month to fly.
Historically, July is the cheapest month to fly from Madrid to Panama City, with a median price of $1346.
⏱️ Flight duration
Flights typically take 23h 11m.
The typical flight duration from Madrid to Panama City is 23 hours and 11 minutes, with 2 stopovers.
✈️ Airlines & availability
Connecting flights are dominant for this route.
Connecting flights are dominant for this route, with no direct flights available historically.
🏆 Airline highlight
Deutsche Luft Hansa and KLM offer connecting flights.
Deutsche Luft Hansa and KLM historically offer connecting flights for the Madrid to Panama City route.
🎯 Booking tip
Deals for this route are rare.
Deals for flights from Madrid to Panama City are historically rare, so book when you see a good price.
Madrid main airports to depart from
Adolfo Suárez Madrid–Barajas (MAD)
Adolfo Suárez Madrid–Barajas Airport is the cheapest option for flights from Madrid to Panama City.
📍 ~15 km from Madrid city center (reachable by car or train)
💸 Flights from ~$685
Panama City main airports to arrive at
Northwest Florida Beaches International (ECP)
ECP is a good arrival airport for flights to Panama City, offering convenient access to the region.
📍 ~20 km from Panama City (reachable by car)
💸 Flights from ~$782
Airports nearby Panama City used as alternative
Destin–Fort Walton Beach (VPS)
Destin–Fort Walton Beach is a useful alternative arrival airport, especially if you are looking for major alternative options.
📍 ~95 km from Panama City (traffic on Highway 98 can significantly impact travel time).
💸 Flights from ~$782
Pensacola International (PNS)
Pensacola International is a reliable alternative for major carrier networks with superior connectivity and a full range of cabin classes.
📍 ~115 km from Panama City (approximately 1.5 to 2 hours drive).
💸 Flights from ~$661
Tallahassee International (TLH)
Tallahassee International offers consistent regional jet service and is a reasonable driving distance via the I-10 corridor.
📍 ~140 km from Panama City (located in a different timezone).
💸 Flights from ~$787
Montgomery Regional (MGM)
Montgomery Regional serves as an alternative hub for travelers heading north into Alabama, providing additional carrier options.
📍 ~245 km from Panama City (significant driving distance).
💸 Flights from ~$1053
Business & First Class Flight Deals to Panama City
Discover luxury on the budget with premium cabin class on flights from Madrid to Panama City.
Elite
Best Elite deals to Panama City
Exclusive daily First Class, Business Class, and Premium Economy flight deals, refreshed every 24 hours.
From MAD
Elite
Sep 08
Panama City, United States
92% AI deal score
$2,598
$1,661
Save $937
From MAD
Elite
Oct 20
Panama City, United States
92% AI deal score
$2,680
$1,664
Save $1,016
From MAD
Elite
Oct 20
Panama City, United States
92% AI deal score
$2,680
$1,664
Save $1,016
From MAD
Elite
Oct 21
Panama City, United States
90% AI deal score
$2,680
$1,895
Save $785
From MAD
Elite
Oct 21
Panama City, United States
90% AI deal score
$2,680
$1,895
Save $785
From MAD
Elite
Oct 22
Panama City, United States
90% AI deal score
$2,680
$1,895
Save $785
From MAD
Elite
Oct 20
Panama City, United States
90% AI deal score
$2,689
$1,895
Save $794
From MAD
Elite
Oct 22
Panama City, United States
90% AI deal score
$2,680
$1,897
Save $783
From MAD
Elite
Oct 01
Panama, Panama
89% AI deal score
$5,753
$3,474
Save $2,279
From MAD
Elite
Jul 16
Panama, Panama
87% AI deal score
$3,830
$2,724
Save $1,106
From MAD
Elite
Oct 16
Panama, Panama
87% AI deal score
$5,813
$3,722
Save $2,091
From MAD
Elite
Dec 01
Panama, Panama
87% AI deal score
$2,462
$1,853
Save $609
From MAD
Elite
Jun 27
Panama, Panama
86% AI deal score
$3,715
$2,817
Save $898
From MAD
Elite
Jul 14
Panama, Panama
85% AI deal score
$3,900
$2,942
Save $958
From MAD
Elite
Sep 09
Panama, Panama
84% AI deal score
$3,908
$3,103
Save $805
From MAD
Elite
Oct 22
Panama City, United States
83% AI deal score
$2,680
$2,127
Save $553
From MAD
Elite
Oct 21
Panama City, United States
83% AI deal score
$2,680
$2,127
Save $553
From MAD
Elite
Dec 13
Panama, Panama
78% AI deal score
$4,933
$4,157
Save $776
From MAD
Elite
Dec 13
Panama, Panama
78% AI deal score
$4,942
$4,157
Save $785
From MAD
Elite
Aug 10
Panama, Panama
76% AI deal score
$3,552
$3,237
Save $315
From MAD
Elite
Dec 11
Panama, Panama
76% AI deal score
$5,385
$4,596
Save $789
From MAD
Elite
Dec 13
Panama, Panama
75% AI deal score
$4,942
$4,596
Save $346
From MAD
Elite
Aug 23
Panama City, United States
74% AI deal score
$3,022
From MAD
Elite
Aug 23
Panama City, United States
74% AI deal score
$3,206
From MAD
Elite
Aug 18
Panama City, United States
74% AI deal score
$3,246
From MAD
Elite
Jul 14
Panama, Panama
73% AI deal score
$3,889
$3,813
Save $76
From MAD
Elite
Dec 12
Panama, Panama
73% AI deal score
$5,385
$5,258
Save $127
From MAD
Elite
Dec 12
Panama, Panama
73% AI deal score
$5,385
$5,258
Save $127
From MAD
Elite
Aug 23
Panama City, United States
73% AI deal score
$3,412
From MAD
Elite
Aug 18
Panama City, United States
73% AI deal score
$3,430
From MAD
Elite
Aug 23
Panama City, United States
73% AI deal score
$3,513
From MAD
Elite
Aug 18
Panama City, United States
73% AI deal score
$3,636
From MAD
Elite
Aug 18
Panama City, United States
73% AI deal score
$3,737
From MAD
Elite
Jun 27
Panama, Panama
72% AI deal score
$3,837
From MAD
Elite
Jul 24
Panama City, United States
72% AI deal score
$4,200
From MAD
Elite
Jul 09
Panama, Panama
71% AI deal score
$3,987
From MAD
Elite
Dec 20
Panama, Panama
71% AI deal score
$5,274
From MAD
Elite
Dec 19
Panama, Panama
71% AI deal score
$5,306
From MAD
Elite
Jul 24
Panama City, United States
71% AI deal score
$4,249
From MAD
Elite
Aug 27
Panama City, United States
71% AI deal score
$4,331
From MAD
Elite
Jul 24
Panama City, United States
71% AI deal score
$4,400
From MAD
Elite
Aug 23
Panama City, United States
71% AI deal score
$4,457
From MAD
Elite
Aug 27
Panama City, United States
71% AI deal score
$4,515
From MAD
Elite
Jul 12
Panama, Panama
70% AI deal score
$3,997
From MAD
Elite
Jul 07
Panama City, United States
70% AI deal score
$4,526
From MAD
Elite
Aug 18
Panama, Panama
69% AI deal score
$4,464
From MAD
Elite
Aug 11
Panama, Panama
69% AI deal score
$4,588
From MAD
Elite
Nov 02
Panama, Panama
68% AI deal score
$4,488
From MAD
Elite
Dec 29
Panama, Panama
68% AI deal score
$5,652
From MAD
Elite
Jun 22
Panama City, United States
68% AI deal score
$7,020
From MAD
Elite
Jul 23
Panama, Panama
67% AI deal score
$4,472
From MAD
Elite
Jul 24
Panama, Panama
67% AI deal score
$4,588
From MAD
Elite
Jun 25
Panama, Panama
67% AI deal score
$4,596
From MAD
Elite
Jul 16
Panama, Panama
67% AI deal score
$4,598
From MAD
Elite
Jul 18
Panama, Panama
67% AI deal score
$4,609
From MAD
Elite
Jul 19
Panama City, United States
67% AI deal score
$7,723
From MAD
Elite
Jul 19
Panama City, United States
67% AI deal score
$8,385
From MAD
Elite
Jul 20
Panama City, United States
67% AI deal score
$11,297
From MAD
Elite
Jul 20
Panama City, United States
67% AI deal score
$11,958
From MAD
Elite
Jul 09
Panama City, United States
67% AI deal score
$12,591
From MAD
Elite
Jul 09
Panama City, United States
67% AI deal score
$13,486
From MAD
Elite
Jul 01
Panama City, United States
67% AI deal score
$14,236
From MAD
Elite
Jun 25
Panama, Panama
66% AI deal score
$5,274
From MAD
Elite
Aug 04
Panama, Panama
66% AI deal score
$5,918
From MAD
Elite
Jul 18
Panama City, United States
66% AI deal score
$8,992
From MAD
Elite
Jul 12
Panama City, United States
66% AI deal score
$10,842
From MAD
Elite
Jun 19
Panama City, United States
66% AI deal score
$10,873
From MAD
Elite
Jul 12
Panama City, United States
66% AI deal score
$11,504
From MAD
Elite
Oct 22
Panama City, United States
66% AI deal score
$12,905
From MAD
Elite
Jun 20
Panama, Panama
65% AI deal score
$5,457
From MAD
Elite
Jun 20
Panama, Panama
50% AI deal score
$5,472
From MAD
Elite
Jun 29
Panama, Panama
48% AI deal score
$7,639
From MAD
Elite
Jun 21
Panama, Panama
48% AI deal score
$8,605