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625 € Cheap Flights from Panama City Tocumen International to Madrid

Compare Panama City Tocumen International to Madrid flight deals

Find the cheapest month or even day of the year to fly to Madrid

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Flight deals from Panama City Tocumen International to Madrid

Looking for a cheap last-minute deal or the best return flight from Panama City Tocumen International Airport to Madrid Airport? If you want to travel next month, return fares start from 625 €. Find the lowest prices on one-way and return tickets right here.
Madrid.625 € per passenger.Departing Wed, 5 Aug, returning Mon, 24 Aug.Return flight with Air France.Outbound indirect flight with Air France, departs from Panama City Tocumen International on Wed, 5 Aug, arriving in Madrid.Inbound indirect flight with Air France, departs from Madrid on Mon, 24 Aug, arriving in Panama City Tocumen International.Price includes taxes and charges.From 625 €, select.
Madrid.637 € per passenger.Departing Mon, 5 Apr, returning Tue, 20 Apr.Return flight with Air France.Outbound indirect flight with Air France, departs from Panama City Tocumen International on Mon, 5 Apr, arriving in Madrid.Inbound indirect flight with Air France, departs from Madrid on Tue, 20 Apr, arriving in Panama City Tocumen International.Price includes taxes and charges.From 637 €, select.
Madrid.639 € per passenger.Departing Fri, 30 Apr, returning Fri, 21 May.Return flight with Air France.Outbound indirect flight with Air France, departs from Panama City Tocumen International on Fri, 30 Apr, arriving in Madrid.Inbound indirect flight with Air France, departs from Madrid on Fri, 21 May, arriving in Panama City Tocumen International.Price includes taxes and charges.From 639 €, select.
Madrid.640 € per passenger.Departing Tue, 28 Jul, returning Thu, 3 Sep.Return flight with Air France.Outbound indirect flight with Air France, departs from Panama City Tocumen International on Tue, 28 Jul, arriving in Madrid.Inbound indirect flight with Air France, departs from Madrid on Thu, 3 Sep, arriving in Panama City Tocumen International.Price includes taxes and charges.From 640 €, select.
Madrid.640 € per passenger.Departing Thu, 17 Sep, returning Thu, 24 Sep.Return flight with Air France.Outbound indirect flight with Air France, departs from Panama City Tocumen International on Thu, 17 Sep, arriving in Madrid.Inbound indirect flight with Air France, departs from Madrid on Thu, 24 Sep, arriving in Panama City Tocumen International.Price includes taxes and charges.From 640 €, select.
Madrid.641 € per passenger.Departing Thu, 6 May, returning Sun, 16 May.Return flight with Air France.Outbound indirect flight with Air France, departs from Panama City Tocumen International on Thu, 6 May, arriving in Madrid.Inbound indirect flight with Air France, departs from Madrid on Sun, 16 May, arriving in Panama City Tocumen International.Price includes taxes and charges.From 641 €, select.
Madrid.645 € per passenger.Departing Mon, 8 Feb, returning Fri, 12 Feb.Return flight with Avianca.Outbound indirect flight with Avianca, departs from Panama City Tocumen International on Mon, 8 Feb, arriving in Madrid.Inbound indirect flight with Avianca, departs from Madrid on Fri, 12 Feb, arriving in Panama City Tocumen International.Price includes taxes and charges.From 645 €, select.
Madrid.645 € per passenger.Departing Wed, 9 Dec, returning Wed, 20 Jan.Return flight with Avianca.Outbound indirect flight with Avianca, departs from Panama City Tocumen International on Wed, 9 Dec, arriving in Madrid.Inbound indirect flight with Avianca, departs from Madrid on Wed, 20 Jan, arriving in Panama City Tocumen International.Price includes taxes and charges.From 645 €, select.
Madrid.646 € per passenger.Departing Mon, 24 May, returning Fri, 4 Jun.Return flight with Avianca.Outbound indirect flight with Avianca, departs from Panama City Tocumen International on Mon, 24 May, arriving in Madrid.Inbound indirect flight with Avianca, departs from Madrid on Fri, 4 Jun, arriving in Panama City Tocumen International.Price includes taxes and charges.From 646 €, select.
Madrid.649 € per passenger.Departing Mon, 22 Feb, returning Thu, 4 Mar.Return flight with Avianca.Outbound indirect flight with Avianca, departs from Panama City Tocumen International on Mon, 22 Feb, arriving in Madrid.Inbound indirect flight with Avianca, departs from Madrid on Thu, 4 Mar, arriving in Panama City Tocumen International.Price includes taxes and charges.From 649 €, select.
Madrid.649 € per passenger.Departing Tue, 2 Mar, returning Tue, 9 Mar.Return flight with Avianca.Outbound indirect flight with Avianca, departs from Panama City Tocumen International on Tue, 2 Mar, arriving in Madrid.Inbound indirect flight with Avianca, departs from Madrid on Tue, 9 Mar, arriving in Panama City Tocumen International.Price includes taxes and charges.From 649 €, select.
Madrid.654 € per passenger.Departing Mon, 25 Jan, returning Mon, 22 Feb.Return flight with Avianca.Outbound indirect flight with Avianca, departs from Panama City Tocumen International on Mon, 25 Jan, arriving in Madrid.Inbound indirect flight with Avianca, departs from Madrid on Mon, 22 Feb, arriving in Panama City Tocumen International.Price includes taxes and charges.From 654 €, select.
Madrid.654 € per passenger.Departing Wed, 2 Jun, returning Fri, 18 Jun.Return flight with Avianca.Outbound indirect flight with Avianca, departs from Panama City Tocumen International on Wed, 2 Jun, arriving in Madrid.Inbound indirect flight with Avianca, departs from Madrid on Fri, 18 Jun, arriving in Panama City Tocumen International.Price includes taxes and charges.From 654 €, select.
Madrid.654 € per passenger.Departing Tue, 1 Dec, returning Sun, 28 Feb.Return flight with Avianca.Outbound indirect flight with Avianca, departs from Panama City Tocumen International on Tue, 1 Dec, arriving in Madrid.Inbound indirect flight with Avianca, departs from Madrid on Sun, 28 Feb, arriving in Panama City Tocumen International.Price includes taxes and charges.From 654 €, select.
Madrid.656 € per passenger.Departing Mon, 30 Nov, returning Sun, 31 Jan.Return flight with Avianca.Outbound indirect flight with Avianca, departs from Panama City Tocumen International on Mon, 30 Nov, arriving in Madrid.Inbound indirect flight with Avianca, departs from Madrid on Sun, 31 Jan, arriving in Panama City Tocumen International.Price includes taxes and charges.From 656 €, select.
Madrid.656 € per passenger.Departing Wed, 31 Mar, returning Sun, 11 Apr.Return flight with Avianca.Outbound indirect flight with Avianca, departs from Panama City Tocumen International on Wed, 31 Mar, arriving in Madrid.Inbound indirect flight with Avianca, departs from Madrid on Sun, 11 Apr, arriving in Panama City Tocumen International.Price includes taxes and charges.From 656 €, select.

Find the cheapest month to fly from Panama City Tocumen International to Madrid

We’re always keeping an eye on fares, so you can find the best one in seconds. It looks like Panama City Tocumen International to Madrid flights are currently cheapest in August.
Jul
Find prices
Aug
from 625 €
Sep
from 640 €
Oct
from 670 €
Nov
from 742 €
Dec
from 722 €
Jan
from 750 €
Feb
from 645 €
Mar
from 649 €
Apr
from 637 €
May
from 641 €
Jun
from 654 €

Direct flights from Panama City Tocumen International to Madrid

Panama City Tocumen International to Madrid: Alternative routes

Compare routes from Panama City Tocumen International to Madrid below. You may find an airport to fly into that's cheaper, faster, or easier than Madrid.

Madrid

12km from central Madrid
ClosestCheapest
from 625 €
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Panama City to Madrid: Flight information

The things to know before you go.
Cheapest flight found625 €
Cheapest month to flyAugust
Average flight time9 hrs, 53 mins
Most popular airlineCopa
Average flights per week95

Finding cheap flights from Panama City Tocumen International to Madrid: Frequently asked questions

The best price we found for a return flight from Panama City Tocumen International to Madrid is 625 €. This is an estimate based on information collected from different airlines and travel providers over the last 4 days and is subject to change and availability.
9 hours and 53 minutes is the average flight time from Panama City Tocumen International to Madrid.
Copa, Etihad Airways and Air Europa fly direct from Panama City Tocumen International to Madrid.
As of July 2026, there are 60 flights per week flying from Panama City Tocumen International to Madrid.
The cheapest month to fly from Panama City Tocumen International to Madrid is usually August.
After crunching the numbers on our flight calendar, we found that it's currently cheapest to fly from Panama City Tocumen International Airport to Madrid Airport on Wednesday, 5 August 2026.
Yes – the average flight time is 9 hours and 53 minutes.
We show every price from over 1,200 airlines and travel agents, comparing them all so you don’t have to. If you know you want to fly to Madrid but you’re not ready to book, set up a Price Alert. We’ll track prices for you, and let you know when they rise or fall.

We crunched all the numbers in our flight calendar and it looks like the cheapest time to book a flight to Madrid is around 40 days in advance, so don’t leave your flight to the last minute.

Currently, Air France and Air Europa offer the cheapest flight tickets to Madrid.

Travelling from Panama City Tocumen International Airport (PTY) to Madrid Airport (MAD): what you need to know

  • Around 9 hours 50 minutes is how long you can expect to be in the air on a direct flight from Panama City Tocumen International Airport to Madrid Airport.

  • The timezone in Madrid is UTC+1, which is six hours ahead of Panama City.

  • Take your pick of ten weekly Panama City Tocumen International Airport to Madrid Airport flights. The 17:20 departure with Iberia is the earliest flight you can take. Air Europa operates the last service of the day at 21:30.

  • Arrive at the airport on time so you don't miss your PTY to MAD flight. Be there at least two hours ahead for international flights and an hour early for domestic departures to avoid any last-minute rush.

  • During popular months like July, it's best to get to the airport even earlier. Arrive two hours before a domestic departure and four hours ahead for international flights when you travel during peak periods in general.

  • Air Europa is your gateway to exploring Madrid (and perhaps some other exciting parts of Spain!). Check out the direct flights from Panama City Tocumen International Airport to Madrid Airport offered by this popular carrier.

  • The majority of travellers choose to travel with Air Europa on this route.

  • Iberia leads the way as the most punctual carrier for PTY to MAD flights, with 80.77% of its services reaching their destination on schedule.

  • Think about adding a stopover when booking your ticket from Panama City Tocumen International Airport to Madrid Airport. Simply deselect 'Direct flights only' to break up your journey, or perhaps explore a new destination along the way. Here are some options between PTY and MAD:

    • Miami International Airport

    • Bogota Airport

    • Santo Domingo Las Americas Airport

How to find the cheapest flights from Panama City Tocumen International Airport (PTY) to Madrid Airport (MAD)

  • At the moment, 408 € is the lowest price we've found for a one-way Panama City Tocumen International Airport to Madrid Airport flight. The best price for a return plane ticket is 625 €. Keep in mind that fares may change due to demand when booking.

  • It's a good idea to book ahead of time if you want to get cheap tickets from PTY to MAD. That's because airlines adjust prices based on demand, which tends to rise closer to departure.

  • May is the cheapest month for flights from Panama City Tocumen International Airport to Madrid Airport. If you want to travel during a different time of year, the 'Whole month' tool will give you the lowest airfares for every month.

  • Save time looking for cheap flights from PTY to MAD by creating a Price Alert. You'll receive an email or push notification on the app when a new discounted fare appears.

  • Secure the ideal flight for you with the help of the filters. To see the 'Cheapest,' 'Best' or 'Fastest' flights from Panama City Tocumen International Airport to Madrid Airport, use the 'Sort by' tool. You can also filter results by arrival and departure times, airline, and number of stops.

Handy information about Panama City Tocumen International Airport (PTY)

  • 88% of flights leaving Panama City Tocumen International Airport touch down at their destination on time. With its impressive on-time stats, you're unlikely to face delays when jetting out of PTY.

  • Panama City Tocumen International Airport is about 24 kilometres from central Panama City. If you're driving, catching a taxi or ride-sharing from the centre, it'll take 35 minutes or so to get there, depending on the traffic.

  • The journey on public transport typically takes 50 minutes.

  • Need a convenient hotel near PTY? If you're boarding an early flight from Panama City Tocumen International Airport to Madrid Airport, these stays will have you moments from your check-in counter:

Arriving at Madrid Airport (MAD)

  • Consider booking a hotel near MAD if you're taking a late Panama City Tocumen International Airport to Madrid Airport flight. Pick one of these accommodation options and avoid the hassle of a long transfer:

  • Begin your adventure by picking up a Madrid Airport rental car. Grab your wheels from Record Go, Goldcar or Click and Rent and explore beyond Madrid's usual tourist stops.

  • To secure the lowest price, book your ride from Madrid Airport around one week before your trip.

When to fly to Madrid Airport (MAD)

  • July is the most popular month for flights from Panama City Tocumen International Airport to Madrid Airport. To escape the crowds, travel to Madrid in March.

  • Lock in your flight from Panama City Tocumen International Airport to Madrid Airport for July if you'd like to visit Madrid during its warmest month. Expect temperatures of between 18ºC (64ºF) and 37ºC (99ºF).

  • Look for cheap tickets from PTY to MAD in January if you'd rather travel during cooler conditions. Temperatures are at their lowest around then, ranging between 0ºC (32ºF) and 12ºC (54ºF) on average.

Explore more of Spain

  • You've visited Madrid, now it's time to discover other corners of Spain. Journey about 274 kilometres north-east to Zaragoza to check off its top sights. From Plaza del Pilar to La Seo del Salvador and Basílica de Nuestra Senora del Pilar, there's plenty to keep you on the go.

  • Salamanca is another favourite destination in Spain and is around 177 kilometres west of Madrid. No journey is complete without dropping by Catedral de Salamanca, Salamanca, Casco Historico and Plaza Mayor.

More travel options

Plan the rest of your trip from Panama City to Madrid

Prices shown on this page are estimated lowest prices only. Found in the last 12 days.