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

Return flights

04 Feb - 18 Feb	Avianca
13 Feb - 18 Feb	Avianca
03 Feb - 03 Mar	Air Europa	direct
22 Feb - 14 Mar	Avianca
15 Feb - 28 Feb	Avianca
04 Feb - 18 Feb	Iberia	direct
07 Feb - 16 Feb	KLM
07 Feb - 16 Feb	Iberia	direct
08 Feb - 20 Feb	Air France
12 Feb - 09 Mar	Air France
22 Feb - 14 Mar	Air Europa	direct
15 Feb - 28 Feb	Air Europa	direct
13 Feb - 18 Feb	Air Europa	direct
27 Feb - 22 Mar	Avianca
23 Feb - 13 Mar	Avianca
28 Feb - 24 Mar	Avianca
20 Feb - 08 Mar	Avianca
14 Feb - 12 Mar	Avianca

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 $635

Return flights