AirHint found the following cheapest return flights from Madrid (MAD) to Panama City (PTY) in September 2026 (see full year).

Return flights

12 Sep - 27 Sep	Avianca
12 Sep - 24 Sep	Avianca
05 Sep - 18 Sep	Avianca
11 Sep - 18 Sep	Iberia	direct
18 Sep - 25 Sep	Iberia	direct
05 Sep - 19 Sep	Avianca
02 Sep - 30 Sep	Iberia	direct
19 Sep - 03 Oct	Air Europa	direct
07 Sep - 20 Sep	Avianca
07 Sep - 21 Sep	Air Europa	direct
12 Sep - 24 Sep	Air Europa	direct

Also check the deals for one-way flights from Madrid to Panama City in September.

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 Panama City in September from 522€

Return flights