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

Return flights

10 Feb - 03 Mar	Avianca
04 Feb - 18 Feb	KLM
16 Feb - 25 Feb	Avianca
01 Feb - 14 Feb	Avianca
07 Feb - 26 Feb	Avianca
22 Feb - 12 Mar	Avianca
03 Feb - 08 Feb	Air France
01 Feb - 16 Feb	Avianca
15 Feb - 01 Mar	Avianca
01 Feb - 25 Feb	Avianca
02 Feb - 05 Mar	Avianca
04 Feb - 18 Feb	Iberia	direct
16 Feb - 25 Feb	Iberia	direct
02 Feb - 15 Feb	Air France
15 Feb - 01 Mar	Air Europa	direct
02 Feb - 05 Mar	Air Europa	direct
28 Feb - 16 Mar	Avianca

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

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.

Book a cheap hotel in Madrid

Cheap car rent in Madrid

Cheapest return flights from Panama City to Madrid in February from 608€

Return flights