AirHint found the following cheapest return flights from Madrid (MAD) to Keflavik (KEF) in January 2026 (see full year).

Return flights

14 Jan - 19 Jan	Ryanair
12 Jan - 16 Jan	Wizz Air Malta
12 Jan - 19 Jan	Wizz Air Malta
16 Jan - 23 Jan	Fly Play	direct
12 Jan - 19 Jan	Fly Play	direct
26 Jan - 30 Jan	Fly Play	direct
09 Jan - 19 Jan	Fly Play	direct
18 Jan - 26 Jan	Ryanair
09 Jan - 17 Jan	Ryanair
19 Jan - 23 Jan	Fly Play	direct
30 Jan - 02 Feb	Fly Play	direct
29 Jan - 02 Feb	Iberia Express

Also check the deals for one-way flights from Madrid to Keflavik in January.

The deals are updated regularly. The prices may go up as tickets are purchased by other travellers. Only the cheapest flights are offered. Select a price to book and secure these cheap prices.

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Cheapest return flights from Madrid to Keflavik in January from 169€

Return flights