Are direct flights from Madrid to Panama City always the best option?

Direct flights offer convenience by reducing travel time and avoiding layovers. However, they are not always the most economical choice. Flights with one or more stops can sometimes be significantly cheaper, offering a trade-off between cost and travel duration.

Can flexible travel dates help on Madrid to Panama City flights?

Yes, being flexible with your travel dates can often lead to finding more affordable flights. Prices can vary significantly depending on the day of the week or time of year. Adjusting your departure or return by a few days may result in notable savings.

What extra costs should I check before booking Madrid to Panama City flights?

Before booking, always check for potential extra costs such as baggage fees, seat selection charges, and in-flight services. Some airlines may also charge for printing boarding passes at the airport. Factor these into your total travel budget to avoid surprises.

Flights From Madrid

To Panama City

Cheap Flights from Madrid to Panama City

Browse current best options from Madrid. Become a member to unlock all deals and get alerts when new deals appear.

Deals from

Madrid

RatePunk searches hundreds of travel sites at once for deals on flights to Panama City

Prices updated 2 days ago

405 airlines compared

80%+ AI score for best value

Fares are subject to change and may not be available for all dates. (Data last updated Jul 26, 2026.)

Today’s best flight deals from Madrid to Panama City

Explore current cheapest deals departing from Madrid to Panama City

2026-09-11 – 2026-09-27
MAD - Panama
88% AI deal score
768 €
564 €
Round trip
2026-11-18 – 2026-11-25
MAD - Panama City
92% AI deal score
953 €
654 €
Round trip
2026-10-06 – 2026-10-12
MAD - Panama City
91% AI deal score
881 €
658 €
Round trip
2026-11-12 – 2026-11-19
MAD - Panama City
92% AI deal score
945 €
658 €
Round trip
2026-11-03 – 2026-11-10
MAD - Panama City
91% AI deal score
927 €
658 €
Round trip
2026-11-02 – 2026-11-08
MAD - Panama City
91% AI deal score
925 €
659 €
Round trip
2026-11-01 – 2026-11-07
MAD - Panama City
91% AI deal score
923 €
660 €
Round trip
2026-11-10 – 2026-11-18
MAD - Panama City
92% AI deal score
944 €
660 €
Round trip
2027-01-21 – 2027-02-04
MAD - Panama
86% AI deal score
874 €
662 €
Round trip
2026-10-12 – 2026-10-18
MAD - Panama City
91% AI deal score
888 €
664 €
Round trip

Madrid to Panama City: Overview

How much is a round trip from Madrid to Panama City

Regular price: €693 - €1,245

Prices for flights from Madrid to Panama are currently below the regular range.

The regular price range for this route is typically between 693 EUR and 1245 EUR. The current lowest deal is 565 EUR, available through Kayak for travel from Sep 8-Sep 27.

now 565 €

Low 693 €

High 1,245 €

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

Cheapest

Flights from 1,346 €

June

Most Expensive

Flights from 1,395 €

Jun

Jul

Direct flights from Madrid to Panama City

Deutsche Luft Hansa

Last-minute flights going from Madrid to Panama City

Thu, Aug 13

⌛ Last-Minute

MAD - Panama City

Madrid (MAD) - Panama City (ECP)

Deutsche Luft Hansa

1,162 €

954 €

One-way

Tue, Aug 18

⌛ Last-Minute

MAD - Panama

Madrid (MAD) - Panama (PTY)

926 €

760 €

One-way

Thu, Aug 20

⌛ Last-Minute

MAD - Panama

Madrid (MAD) - Panama (PTY)

871 €

674 €

One-way

Thu, Aug 20

⌛ Last-Minute

MAD - Panama

Madrid (MAD) - Panama (PTY)

871 €

674 €

One-way

Thu, Aug 20

⌛ Last-Minute

MAD - Panama

Madrid (MAD) - Panama (PTY)

949 €

723 €

One-way

Fri, Aug 21

⌛ Last-Minute

MAD - Panama

Madrid (MAD) - Panama (PTY)

871 €

674 €

One-way

Biggest price drops on these dates for flights from Madrid to Panama City

7 nights

Nov 18 - Nov 25

950 € → 654 €

31%

7 nights

Nov 12 - Nov 19

949 € → 657 €

31%

8 nights

Nov 10 - Nov 18

927 € → 659 €

29%

7 nights

Nov 3 - Nov 10

912 € → 657 €

28%

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 from Madrid to Panama City are below the typical level at $565.

📅 Best time to fly

Fly in July for the best prices

Historically, July is the cheapest month to fly, with a median price of $1346.

⏱️ Flight duration

Connecting flights take 23h 11m

The typical flight duration for this long-haul route is 23h 11m with 2 stopovers.

✈️ Airlines & availability

Connecting flights are dominant

Direct flights are not available; connecting flights are the only option for this route.

🏆 Airline highlight

Deutsche Luft Hansa offers connecting flights

Deutsche Luft Hansa has offered connecting flights on this route historically.

🎯 Booking tip

Deals are rare for this route

Deals for flights from Madrid to Panama City are historically rare.

Madrid main airports to depart from

Adolfo Suárez Madrid–Barajas (MAD)

Cheapest

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)

Cheapest

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

Business & First Class Flight Deals to Panama City

87% AI deal score

$2,462

$1,853

Save $609

Frequently Asked Questions About Flights to Panama City

To find more affordable flights, consider being flexible with your travel dates and times. Comparing prices across different airlines and booking sites can also help you discover better deals. Looking into flights with layovers may sometimes present lower fares than direct options.

Booking in advance often provides more competitive prices, especially for international routes. However, last-minute deals can sometimes appear, though they are less predictable. Monitoring price trends over several weeks may help you identify an opportune booking window.

Comparing nearby airports at both your origin and destination can sometimes reveal different flight options or prices. While not always necessary, it may occasionally lead to more convenient or cost-effective travel plans. Always consider the additional travel time and cost to reach these alternative airports.

Related routes

More routes from Madrid

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Flights to Panama City from other cities

Flights from Amsterdam to Panama City Flights from Barcelona to Panama City Flights from Bogotá to Panama City Flights from Medellín to Panama City Flights from Munich to Panama City Flights from Paris to Panama City Flights from Quito to Panama City Flights from Reykjavik to Panama City Flights from Rome to Panama City Flights from San Juan to Panama City Flights from San Miguel de Tucumán to Panama City Flights from Santiago de Chile to Panama City

Madrid to Panama City: Overview

How much is a round trip from Madrid to Panama City

Regular price: €693 - €1,245

Prices for flights from Madrid to Panama are currently below the regular range.

The regular price range for this route is typically between 693 EUR and 1245 EUR. The current lowest deal is 565 EUR, available through Kayak for travel from Sep 8-Sep 27.

now 565 €

Low 693 €

High 1,245 €

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

Cheapest

Flights from 1,346 €

June

Most Expensive

Flights from 1,395 €

Jun

Jul

Direct flights from Madrid to Panama City

Deutsche Luft Hansa

Last-minute flights going from Madrid to Panama City

Thu, Aug 13

⌛ Last-Minute

MAD - Panama City

Madrid (MAD) - Panama City (ECP)

Deutsche Luft Hansa

1,162 €

954 €

One-way

Tue, Aug 18

⌛ Last-Minute

MAD - Panama

Madrid (MAD) - Panama (PTY)

926 €

760 €

One-way

Thu, Aug 20

⌛ Last-Minute

MAD - Panama

Madrid (MAD) - Panama (PTY)

871 €

674 €

One-way

Thu, Aug 20

⌛ Last-Minute

MAD - Panama

Madrid (MAD) - Panama (PTY)

871 €

674 €

One-way

Thu, Aug 20

⌛ Last-Minute

MAD - Panama

Madrid (MAD) - Panama (PTY)

949 €

723 €

One-way

Fri, Aug 21

⌛ Last-Minute

MAD - Panama

Madrid (MAD) - Panama (PTY)

871 €

674 €

One-way

Biggest price drops on these dates for flights from Madrid to Panama City

7 nights

Nov 18 - Nov 25

950 € → 654 €

31%

7 nights

Nov 12 - Nov 19

949 € → 657 €

31%

8 nights

Nov 10 - Nov 18

927 € → 659 €

29%

7 nights

Nov 3 - Nov 10

912 € → 657 €

28%

Popular Airports to fly from Madrid to Panama City