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

Direct flights offer convenience by minimizing travel time and avoiding layovers. However, they are not always the most budget-friendly choice. Flights with connections can often be more affordable, depending on the route and airline.

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

Being flexible with your travel dates can significantly impact flight prices. Mid-week travel or flying during off-peak seasons often results in lower fares. Adjusting your departure or return by even a few days may unlock better deals.

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. These additional fees can impact the total cost of your trip.

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 today

461 airlines compared

80%+ AI score for best value

Fares are subject to change and may not be available for all dates. (Data last updated Sep 14, 2026.)

Today’s best flight deals from Madrid to Panama City

Explore current cheapest deals departing from Madrid to Panama City

2026-11-06 – 2026-11-11
MAD - Panama
89% AI deal score
778 €
543 €
Round trip
2026-11-06 – 2026-11-13
MAD - Panama
88% AI deal score
764 €
543 €
Round trip
2026-11-06 – 2026-11-14
MAD - Panama
88% AI deal score
752 €
543 €
Round trip
2026-11-11 – 2026-11-15
MAD - Panama
89% AI deal score
772 €
543 €
Round trip
2026-11-13 – 2026-11-24
MAD - Panama
88% AI deal score
749 €
543 €
Round trip
2026-11-19 – 2026-12-11
MAD - Panama
88% AI deal score
745 €
543 €
Round trip
2026-11-26 – 2026-12-06
MAD - Panama
88% AI deal score
755 €
543 €
Round trip
2026-12-01 – 2026-12-16
MAD - Panama
90% AI deal score
841 €
543 €
Round trip
2026-12-06 – 2026-12-22
MAD - Panama
90% AI deal score
848 €
543 €
Round trip
2027-01-17 – 2027-01-31
MAD - Panama
89% AI deal score
776 €
543 €
Round trip

Madrid to Panama City: Overview

Insights for flights from Madrid to Panama City

Fares for flights from Madrid to Panama City typically range from $1358–$1383, with a median of $1371. Right now, fares to Panama City are significantly below the typical level. Finding cheap flights from Madrid to Panama City can be challenging, as new deals are infrequent — a price alert helps secure better rates.

The cheapest time to fly from Madrid to Panama City is typically in July, with a median fare of $1346. June also offers competitive pricing, with a median fare of $1395.

Most itineraries for this route connect at least once. In fact, 0% of recent fares were for non-stop flights. For connecting itineraries, the typical number of connections is 2.

A typical journey from Madrid to Panama City takes approximately 23h 11m, including connections. This is a long-haul route, covering a distance of 7268 km.

How much is a round trip from Madrid to Panama City

Regular price: €606 - €1,388

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

The regular price range for flights from Madrid to Panama is 606 EUR to 1388 EUR. The current lowest deal is 524 EUR. This deal is available for travel from Feb 16-Feb 24 via kayak.

now 524 €

Low 606 €

High 1,388 €

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

KLM

Last-minute flights going from Madrid to Panama City

Thu, Sep 24

⌛ Last-Minute

MAD - Panama City

Madrid (MAD) - Panama City (ECP)

KLM

1,044 €

744 €

One-way

Fri, Nov 6

⌛ Last-Minute

MAD - Panama

Madrid (MAD) - Panama (PTY)

766 €

544 €

One-way

Wed, Nov 11

⌛ Last-Minute

MAD - Panama

Madrid (MAD) - Panama (PTY)

750 €

543 €

One-way

Wed, Nov 11

⌛ Last-Minute

MAD - Panama

Madrid (MAD) - Panama (PTY)

752 €

544 €

One-way

Thu, Nov 12

⌛ Last-Minute

MAD - Panama

Madrid (MAD) - Panama (PTY)

751 €

543 €

One-way

Thu, Nov 12

⌛ Last-Minute

MAD - Panama

Madrid (MAD) - Panama (PTY)

749 €

545 €

One-way

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

7 nights

Dec 29 - Jan 5

911 € → 545 €

40%

6 nights

Dec 2 - Dec 8

1,050 € → 688 €

34%

5 nights

Dec 25 - Dec 30

909 € → 558 €

39%

16 nights

Dec 29 - Jan 14

887 € → 545 €

39%

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 for this route.

📅 Best time to fly

July and June are historically cheapest

Historically, the cheapest months to fly from Madrid to Panama City are July ($1346) and June ($1395).

⏱️ Flight duration

Connecting flights average 23h 11m

Flights on this long-haul route typically involve 2 stopovers, with a median duration of 23h 11m.

✈️ Airlines & availability

Connecting flights are dominant

Connecting flights are dominant on this route, with no direct flights available in the last 90 days.

🏆 Airline highlight

Deutsche Luft Hansa offers connecting deals

Deutsche Luft Hansa has offered 7 connecting deals, and KLM has offered 1 connecting deal recently.

🎯 Booking tip

Deals for this route are rare

Deals for flights from Madrid to Panama City are rare, appearing infrequently over the last 30 days.

Madrid main airports to depart from

Adolfo Suárez Madrid–Barajas (MAD)

Cheapest

Adolfo Suárez Madrid–Barajas Airport is a convenient option for flights from Madrid to Panama City.

📍 ~14 km from city center (reachable by car or train)

💸 Flights from ~€544

Panama City main airports to arrive at

Northwest Florida Beaches International (ECP)

Cheapest

Northwest Florida Beaches International Airport is a convenient arrival option for Panama City.

📍 ~26 km from Panama City (reachable by car)

💸 Flights from ~€694

Airports nearby Panama City used as alternative

Destin–Fort Walton Beach (VPS)

Destin–Fort Walton Beach is a useful alternative, serving the same coastal region with similar airline carriers.

📍 ~90 km from Panama City (traffic can be heavy during peak tourist seasons).

💸 Flights from ~€714

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

Oct 01

Panama, Panama

91% AI deal score

$5,394

$3,116

Save $2,278

From MAD

Elite

Sep 30

Panama City, United States

91% AI deal score

$2,672

$1,826

Save $846

United Airlines

Business Class

From MAD

Elite

Oct 28

Panama, Panama

90% AI deal score

$5,478

$3,162

Save $2,316

From MAD

Elite

Dec 24

Panama City, United States

90% AI deal score

$2,627

$1,859

Save $768

United Airlines

Business Class

From MAD

Elite

Feb 03

Panama, Panama

88% AI deal score

$4,360

$2,975

Save $1,385

From MAD

Elite

Feb 04

Panama, Panama

88% AI deal score

$4,364

$2,975

Save $1,389

From MAD

Elite

Feb 04

Panama, Panama

88% AI deal score

$4,356

$2,975

Save $1,381

From MAD

Elite

Feb 06

Panama, Panama

88% AI deal score

$4,514

$2,975

Save $1,539

From MAD

Elite

Feb 06

Panama, Panama

88% AI deal score

$4,497

$2,975

Save $1,522

From MAD

Elite

Feb 06

Panama, Panama

88% AI deal score

$4,386

$2,975

Save $1,411

From MAD

Elite

Feb 07

Panama, Panama

88% AI deal score

$4,476

$2,975

Save $1,501

From MAD

Elite

Feb 07

Panama, Panama

88% AI deal score

$4,479

$2,975

Save $1,504

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 often reveal better deals. Looking into flights with layovers may also present lower-cost options.

Booking in advance can often secure better prices, though the optimal booking window can vary. Prices may fluctuate based on demand and seasonality. It's usually helpful to monitor fares over time to identify trends.

Comparing nearby airports at both your origin and destination can sometimes lead to more economical flight options. While it may require additional travel time, the potential savings on airfare can be significant. Always factor in ground transportation costs and convenience.

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

Insights for flights from Madrid to Panama City

The cheapest time to fly from Madrid to Panama City is typically in July, with a median fare of $1346. June also offers competitive pricing, with a median fare of $1395.

Most itineraries for this route connect at least once. In fact, 0% of recent fares were for non-stop flights. For connecting itineraries, the typical number of connections is 2.

A typical journey from Madrid to Panama City takes approximately 23h 11m, including connections. This is a long-haul route, covering a distance of 7268 km.

How much is a round trip from Madrid to Panama City

Regular price: €606 - €1,388

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

The regular price range for flights from Madrid to Panama is 606 EUR to 1388 EUR. The current lowest deal is 524 EUR. This deal is available for travel from Feb 16-Feb 24 via kayak.

now 524 €

Low 606 €

High 1,388 €

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

KLM

Last-minute flights going from Madrid to Panama City

Thu, Sep 24

⌛ Last-Minute

MAD - Panama City

Madrid (MAD) - Panama City (ECP)

KLM

1,044 €

744 €

One-way

Fri, Nov 6

⌛ Last-Minute

MAD - Panama

Madrid (MAD) - Panama (PTY)

766 €

544 €

One-way

Wed, Nov 11

⌛ Last-Minute

MAD - Panama

Madrid (MAD) - Panama (PTY)

750 €

543 €

One-way

Wed, Nov 11

⌛ Last-Minute

MAD - Panama

Madrid (MAD) - Panama (PTY)

752 €

544 €

One-way

Thu, Nov 12

⌛ Last-Minute

MAD - Panama

Madrid (MAD) - Panama (PTY)

751 €

543 €

One-way

Thu, Nov 12

⌛ Last-Minute

MAD - Panama

Madrid (MAD) - Panama (PTY)

749 €

545 €

One-way

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

7 nights

Dec 29 - Jan 5

911 € → 545 €

40%

6 nights

Dec 2 - Dec 8

1,050 € → 688 €

34%

5 nights

Dec 25 - Dec 30

909 € → 558 €

39%

16 nights

Dec 29 - Jan 14

887 € → 545 €

39%

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 for this route.

📅 Best time to fly

July and June are historically cheapest

Historically, the cheapest months to fly from Madrid to Panama City are July ($1346) and June ($1395).

⏱️ Flight duration

Connecting flights average 23h 11m

Flights on this long-haul route typically involve 2 stopovers, with a median duration of 23h 11m.

✈️ Airlines & availability

Connecting flights are dominant

Connecting flights are dominant on this route, with no direct flights available in the last 90 days.

🏆 Airline highlight

Deutsche Luft Hansa offers connecting deals

Deutsche Luft Hansa has offered 7 connecting deals, and KLM has offered 1 connecting deal recently.

🎯 Booking tip

Deals for this route are rare

Deals for flights from Madrid to Panama City are rare, appearing infrequently over the last 30 days.

Madrid main airports to depart from

Adolfo Suárez Madrid–Barajas (MAD)

Cheapest

Adolfo Suárez Madrid–Barajas Airport is a convenient option for flights from Madrid to Panama City.

📍 ~14 km from city center (reachable by car or train)

💸 Flights from ~€544

Panama City main airports to arrive at

Northwest Florida Beaches International (ECP)

Cheapest

Northwest Florida Beaches International Airport is a convenient arrival option for Panama City.

📍 ~26 km from Panama City (reachable by car)

💸 Flights from ~€694

Airports nearby Panama City used as alternative

Destin–Fort Walton Beach (VPS)

Destin–Fort Walton Beach is a useful alternative, serving the same coastal region with similar airline carriers.

📍 ~90 km from Panama City (traffic can be heavy during peak tourist seasons).

💸 Flights from ~€714

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

Oct 01

Panama, Panama

91% AI deal score

$5,394

$3,116

Save $2,278

From MAD

Elite

Sep 30

Panama City, United States

91% AI deal score

$2,672

$1,826

Save $846

United Airlines

Business Class

From MAD

Elite

Oct 28

Panama, Panama

90% AI deal score

$5,478

$3,162

Save $2,316

From MAD

Elite

Dec 24

Panama City, United States

90% AI deal score

$2,627

$1,859

Save $768

United Airlines

Business Class

From MAD

Elite

Feb 03

Panama, Panama

88% AI deal score

$4,360

$2,975

Save $1,385

From MAD

Elite

Feb 04

Panama, Panama

88% AI deal score

$4,364

$2,975

Save $1,389

From MAD

Elite

Feb 04

Panama, Panama

88% AI deal score

$4,356

$2,975

Save $1,381

From MAD

Elite

Feb 06

Panama, Panama

88% AI deal score

$4,514

$2,975

Save $1,539

From MAD

Elite

Feb 06

Panama, Panama

88% AI deal score

$4,497

$2,975

Save $1,522

From MAD

Elite

Feb 06

Panama, Panama

88% AI deal score

$4,386

$2,975

Save $1,411

From MAD

Elite

Feb 07

Panama, Panama

88% AI deal score

$4,476

$2,975

Save $1,501

From MAD

Elite

Feb 07

Panama, Panama

88% AI deal score

$4,479

$2,975

Save $1,504

Frequently Asked Questions About Flights to Panama City

Cheap Flights from Madrid to Panama City

Today’s best flight deals from Madrid to Panama City

Madrid to Panama City: Overview

Insights for flights from Madrid to Panama City

How much is a round trip from Madrid to Panama City

The cheapest time to fly from Madrid to Panama City

Direct flights from Madrid to Panama City

Last-minute flights going from Madrid to Panama City

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

Popular Airports to fly from Madrid to Panama City

Madrid - Panama City route insights

Recent fares are below the typical level

July and June are historically cheapest

Connecting flights average 23h 11m

Connecting flights are dominant

Deutsche Luft Hansa offers connecting deals

Deals for this route are rare

Madrid main airports to depart from

Panama City main airports to arrive at

Airports nearby Panama City used as alternative

Business & First Class Flight Deals to Panama City

Best Elite deals to Panama City

Oct 01

Sep 30

Oct 28

Dec 24

Feb 03

Feb 04

Feb 04

Feb 06

Feb 06

Feb 06

Feb 07

Feb 07

Frequently Asked Questions About Flights to Panama City

How can I find cheap flights from Madrid to Panama City?

When should I book flights from Madrid to Panama City?

Should I compare nearby airports for flights from Madrid to Panama City?

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

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

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

Related routes

More routes from Madrid

Flights to Panama City from other cities

Madrid to Panama City: Overview

Insights for flights from Madrid to Panama City

How much is a round trip from Madrid to Panama City

The cheapest time to fly from Madrid to Panama City

Direct flights from Madrid to Panama City

Last-minute flights going from Madrid to Panama City

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

Popular Airports to fly from Madrid to Panama City

Madrid - Panama City route insights

Recent fares are below the typical level

July and June are historically cheapest

Connecting flights average 23h 11m

Connecting flights are dominant

Deutsche Luft Hansa offers connecting deals

Deals for this route are rare

Madrid main airports to depart from

Panama City main airports to arrive at

Airports nearby Panama City used as alternative

Business & First Class Flight Deals to Panama City

Best Elite deals to Panama City

Oct 01

Sep 30

Oct 28

Dec 24

Feb 03

Feb 04

Feb 04

Feb 06

Feb 06

Feb 06

Feb 07

Feb 07

Frequently Asked Questions About Flights to Panama City

How can I find cheap flights from Madrid to Panama City?

When should I book flights from Madrid to Panama City?

Should I compare nearby airports for flights from Madrid to Panama City?