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

Return flights

16 Jan - 23 Jan	easyJet
12 Jan - 23 Jan	easyJet
23 Jan - 04 Feb	easyJet
18 Jan - 23 Jan	easyJet
12 Jan - 18 Jan	easyJet
12 Jan - 17 Jan	Wizz Air Malta
19 Jan - 26 Jan	Transavia France
12 Jan - 16 Jan	Wizz Air Malta
19 Jan - 24 Jan	Transavia France
09 Jan - 11 Jan	easyJet
10 Jan - 12 Jan	Transavia France
26 Jan - 02 Feb	Transavia France
26 Jan - 02 Feb	Fly Play	direct
25 Jan - 01 Feb	Ryanair
30 Jan - 02 Feb	Fly Play	direct
26 Jan - 01 Feb	Ryanair
29 Jan - 02 Feb	Ryanair
29 Jan - 03 Feb	Ryanair
28 Jan - 03 Feb	Air Europa

Also check the deals for one-way flights from Madrid to Keflavik 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 Madrid to Keflavik in January from $167

Return flights