Route brief · MAD → PTY
Madrid → Panama City
$734
−23% vs typical
seasonal median $955 · difference $221
Nov 11 – Nov 24 · 13 nights
Air EuropaNonstop
- Usual monthly lows
- $816–$979
- Board rank
- Stronger than 63%
- Route sample
- 6 observed months
Cached fare — the booking search re-prices live before you pay.
Destination briefPTYPanama CitySkyline on one side, colonial casco on the other, and Copa’s hub making Latin America cheap to reach.Best windowDec–AprAirportsTocumen (PTY)All routes into Panama CityWhen this route gets cheap.
Cached-fare history: across 6 months, Nov is the cheapest for MAD → PTY. Best time to be there: Dec–Apr.
Fares bottom out in November around $734 and peak in December near $1,212 — a $478 spread across the 6 months we track. The cheapest itinerary we are tracking flies Air Europa nonstop and takes about 10.5 hours outbound, on a 13-night trip. At $734 for 8,162 km each way, that works out to about $45 per 1,000 km flown. That is about the $44 typical of long-haul fares here. Of the 16 departure cities we track at a similar distance from Panama City, this is the cheapest right now — 6% under the next one, Paris. For context, the middle fare among the 30 routes of similar length we watch out of Madrid is $722.
Day-level prices for the next 4 months
Tap any day → live search
The median cached fare across this calendar is 1% lower than when tracking began on Aug 8 — $991 then versus $981 now, across 5 recorded snapshots. This is a calendar-level trend, so an individual deal above can be lower. The lowest single day we have seen here is $734, on Nov 11.
Cached day-level data for this route is sparse — 18 of 122 days priced, from 31 tracked fares. The days below are shown as found, with no cheapest-day or below-median call.
October 2026
Cheapest in Nov · around $734
23% below the $955 typical fare
Cheapest round-trip fare found per month · Madrid → Panama City · cached-price history
Route facts
- Airports
- Barajas (MAD) ↔ Tocumen (PTY)
- Flight time
- ~10.5 hours outbound
- Distance
- ~8,162 km each way
- Typical price
- $955 round-trip (seasonal median)
- Airlines on the board
- Air Europa
- Itineraries
- Nonstop available
- Best months to visit
- Dec–Apr
MAD → PTY, answered.
Is $734 a good price for Madrid to Panama City?
Yes — the seasonal median for this route is around $955 round-trip. At $734 you're 23% below that, saving about $221, which we rate good for this route.
What is the cheapest month to fly from Madrid to Panama City?
Across 6 months of cached-fare history, Nov comes out cheapest on this route. The best months to actually be in Panama City are Dec–Apr — when those overlap, that's your window.
How far in advance should I book MAD → Panama City?
We do not publish a number for this, because we cannot measure it yet. Answering it honestly means watching the same departure date on this route over many weeks as it approaches, and that archive is still filling up — so any "book N days ahead" figure here would be borrowed from somewhere else rather than measured. What we can measure is which month is cheap: across 6 months of cached fares, Nov comes out lowest on this route. See /guides/what-moves-a-flight-price/ for what does move a fare.
Are there nonstop flights from Madrid to Panama City?
Yes — the current board includes nonstop fares (Air Europa). The outbound leg runs around 10.5 hours.
Are these prices guaranteed?
No — these are cached fares found on real searches (this one on September 1). Airlines reprice constantly, so the booking search re-checks the live price before you pay. Fresher finds are far more likely to still be available.
Next step
Sleeping in Panama City?
Lock the flight first — then compare stays for Nov 11 – Nov 24 · 13 nights.
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Missed it?
Cached fares expire. This route has a feed of its own — follow it and the next MAD → PTY drop reaches you as soon as we find it.
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