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

Return flights

28 Feb - 22 Mar	Avianca
15 Feb - 28 Feb	Avianca
21 Feb - 28 Feb	Avianca
14 Feb - 18 Feb	Avianca
17 Feb - 02 Mar	Avianca
05 Feb - 19 Feb	Air Europa	direct
17 Feb - 02 Mar	Air Europa	direct
15 Feb - 28 Feb	Air Europa	direct
13 Feb - 18 Feb	Avianca
09 Feb - 14 Feb	Avianca
02 Feb - 13 Feb	Avianca
21 Feb - 28 Feb	Air Europa	direct
14 Feb - 18 Feb	Air Europa	direct
28 Feb - 22 Mar	Air Europa	direct
23 Feb - 13 Mar	Air Europa	direct
28 Feb - 24 Mar	Air Europa	direct

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.

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Cheapest return flights from Panama City to Madrid in February from 523€

Return flights