AirHint found the following cheapest return flights from Madrid (MAD) to Panama City (PTY) in September 2025 (see full year).

Return flights

17 Sep - 12 Oct	KLM
24 Sep - 05 Oct	KLM
18 Sep - 14 Oct	KLM
25 Sep - 09 Oct	Air France
23 Sep - 02 Oct	KLM
22 Sep - 30 Sep	KLM
10 Sep - 30 Sep	KLM
15 Sep - 30 Sep	KLM
22 Sep - 02 Oct	KLM
29 Sep - 18 Oct	Air France
26 Sep - 18 Oct	Air France
26 Sep - 09 Oct	Air France
26 Sep - 18 Oct	Iberia	direct
18 Sep - 23 Sep	Air Europa	direct
07 Sep - 21 Sep	Air Europa	direct
09 Sep - 23 Sep	Air Europa	direct
11 Sep - 25 Sep	Air Europa	direct
12 Sep - 21 Sep	Air Europa	direct
13 Sep - 24 Sep	KLM
24 Sep - 28 Sep	KLM

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

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 Panama City in September from $680

Return flights