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

Return flights

20 Jan - 04 Feb	Avianca
26 Jan - 11 Feb	Avianca
22 Jan - 29 Jan	Avianca
27 Jan - 13 Feb	Avianca
30 Jan - 15 Feb	Avianca
30 Jan - 16 Feb	Avianca
31 Jan - 15 Feb	Avianca
22 Jan - 28 Jan	Avianca
19 Jan - 03 Feb	Turkish Airlines
27 Jan - 13 Feb	Air Europa	direct
25 Jan - 31 Jan	Turkish Airlines
26 Jan - 11 Feb	Iberia	direct
20 Jan - 04 Feb	Air Europa	direct
22 Jan - 28 Jan	Air Europa	direct
13 Jan - 31 Jan	Turkish Airlines
17 Jan - 31 Jan	Avianca
16 Jan - 23 Jan	Avianca
17 Jan - 31 Jan	Iberia	direct
01 Jan - 12 Jan	Air France
05 Jan - 15 Jan	Turkish Airlines

Also check the deals for one-way flights from Panama City to Madrid 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 Panama City to Madrid in January from 608€

Return flights