AirHint found the following cheapest return flights from Panama City (PTY) to Managua (MGA) in December 2025 (see full year).

Return flights

26 Dec - 11 Jan	Avianca
26 Dec - 20 Jan	Avianca
31 Dec - 12 Jan	Copa	direct
22 Dec - 19 Jan	Avianca
16 Dec - 14 Jan	Avianca
13 Dec - 06 Jan	Avianca
22 Dec - 26 Dec	Avianca
13 Dec - 13 Jan	Avianca
22 Dec - 28 Dec	Avianca
14 Dec - 19 Jan	Avianca
22 Dec - 15 Jan	Avianca
13 Dec - 13 Jan	Copa	direct
16 Dec - 30 Dec	Avianca
15 Dec - 30 Dec	Avianca
18 Dec - 26 Dec	Avianca
14 Dec - 23 Dec	Avianca
18 Dec - 23 Dec	Copa	direct
20 Dec - 22 Dec	Avianca
02 Dec - 09 Dec	Avianca
14 Dec - 23 Dec	Copa	direct

Also check the deals for one-way flights from Panama City to Managua in December.

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 Managua in December from 348€

Return flights