Cheap flights from Madrid to Panama City from £327

If you aren’t able to travel to Panama City during the month of April, then flying in May is also cheap. Prices for this month can be found on momondo for an average of £558.

According to our data, Wednesday is the cheapest day to fly to Panama City from Madrid. The lowest ticket price found for a Wednesday departure recently was £518. Keep in mind that prices can always vary depending on your route and whether or not you are flying domestic or international. On the other hand, Monday is the most expensive day to depart from Madrid because it is more convenient for both business and leisure travellers. As a result, prices tend to be around £613.

Flying to Panama City from Madrid in the morning is the least expensive time of day to depart. momondo users have found prices as low as £529 when looking at flights departing in the morning. Flights to Panama City are more costly in the afternoon, with an average ticket price of £569. Departure times in the afternoon fall within the peak daily travel times, which is why tickets can be more expensive.

Fly from Madrid Barajas to Panama City Tocumen Intl for the best Madrid Barajas - Panama City Tocumen Intl flight prices

You are more likely to see cheaper flights to Panama City from Madrid when booking weeks ahead of your departure date. In general, you can expect to find flights to Panama City for around £655 when searching weeks before you fly. However, flight prices might be lower outside of this timeframe. For example, people recently found flights to Panama City from Madrid for as low as £601 on momondo.

There are 2 cabin classes available to choose from on Madrid to Panama City flights. Cabin price and availability will vary by airline so perform a search above to find the right deals for you.

You could potentially save up to 33% on your flight if you consider stops on a Madrid to Panama City flight.

As of October 2026, prices for Madrid to Panama City flights are approximately 34% cheaper when compared to flights at the same time last year.

Historically, on average around 27% of flights between Madrid and Panama City have experienced a delay on any given week. The average delay length over the past 12 months has been 135 minutes.

Generally, flights departing in the evening tend to experience fewer delays. Flights departing in the early afternoon have, in the past, seen delays more frequently in comparison.

Sunday is statistically the day of the week that experiences the fewest delays on this flight route. Thursday has historically seen more delays on average compared to the rest of the week.

According to our data, Iberia have had the fewest delays on this route over the last 12 months, with about 27% of their flights experiencing any sort of delay.

6 flights are operational daily from Madrid to Panama City as of October 2026. The most popular departure time for this route is 15:00, with 100% of flights per day taking off in the afternoon.

As of October 2026, there are 43 flights per week flying from Madrid to Panama City. The most common day of the week flights depart is Wed, with 23% of flights taking off on this day.