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

Return flights

18 Feb - 04 Mar	LATAM Airlines Group
26 Feb - 03 Mar	LATAM Airlines Group
16 Feb - 05 Mar	Avianca
24 Feb - 08 Mar	LATAM Airlines Group
01 Feb - 28 Feb	LATAM Airlines Group
16 Feb - 10 Mar	Air Europa	direct
18 Feb - 04 Mar	Air Europa	direct
16 Feb - 16 Mar	Avianca
16 Feb - 05 Mar	Air Europa	direct
24 Feb - 08 Mar	Air Europa	direct
26 Feb - 03 Mar	Air Europa	direct
16 Feb - 25 Feb	Air Europa	direct
17 Feb - 24 Feb	Air Europa	direct
12 Feb - 26 Feb	Air Europa	direct
16 Feb - 27 Feb	Avianca
02 Feb - 15 Feb	TAP
10 Feb - 17 Feb	Air Europa	direct
21 Feb - 28 Feb	Air Europa	direct
01 Feb - 25 Feb	TAP
02 Feb - 15 Feb	Air Europa	direct

Also check the deals for one-way flights from Madrid to Asuncion 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 Madrid to Asuncion in February from $961

Return flights