Cheap flights from Madrid to Reykjavik from £89

If you aren’t able to travel during the month of October, then book flights to Reykjavik from Madrid during February instead. Flights to Reykjavik in February, while not as cheap as those in October, still average around £82.

Fly from Madrid Barajas to Reykjavik Keflavik Intl for the best Madrid Barajas - Reykjavik flight prices

You are more likely to see cheaper flights to Reykjavik from Madrid when booking weeks ahead of your departure date. In general, you can expect to find flights to Reykjavik for around £280 when searching weeks before you fly. However, flight prices might be lower outside of this timeframe. For example, people recently found flights to Reykjavik from Madrid for as low as £177 on momondo.

There is only 1 cabin class available to choose from on Madrid to Reykjavik 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 35% on your flight if you consider stops on a Madrid to Reykjavik flight.

As of June 2026, prices for Madrid to Reykjavik flights are approximately 33% more expensive when compared to flights at the same time last year.

Historically, on average around 12% of flights between Madrid and Reykjavik have experienced a delay on any given week. The average delay length over the past 12 months has been 88 minutes.

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

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

According to our data, Iberia Express have had the fewest delays on this route over the last 12 months, with about 8% of their flights experiencing any sort of delay.