Rooftop bars over the Pacific, ships crossing a continent and Caribbean islands a short hop away.
Avianca flies from Madrid to Panama City from €429 return, with a short stop in Bogotá each way. Fares stay under €475 from February to April 2027, the dry season in Panama, and a cabin bag is included.
✈️ The Deal
- From: Madrid, Spain
- To: Panama City, Panama
- Airline: Avianca
- Stops: 1 stop in Bogotá
- Price: €429 - €472 return
- When: February - April 2027
Example dates:
12/02/2027 - 23/02/2027
24/03/2027 - 06/04/2027
15/04/2027 - 25/04/2027
Claim up to €600 for your delayed or cancelled flight →
Prices by date: 24/03 - 06/04 from €429, 15/04 - 25/04 from €470, 12/02 - 23/02 from €472. On the March dates you leave Madrid at 10:10, stop for 1h in Bogotá and land in Panama City at 17:15 the same day. The flight home leaves at 04:25, stops for 1h45 in Bogotá and lands in Madrid at 00:20 the next night. The Light fare includes a cabin bag, with no checked bag.
💰 How far does your money go?
A caña on a Madrid terrace costs €3-3.50. Panama uses the US dollar, and prices are lower than you might expect: a local beer in a cantina costs about €1.80, and a lunch in a fonda with rice, beans, meat and a drink about €4. A meal for two in a local restaurant is around €18.
☀️ The Weather
February to April is the dry season in Panama City. Expect sunny days of 31-32°C, warm nights of about 23°C and very little rain until late April. On the Caribbean side, in San Blas and Bocas del Toro, the sea is around 28°C.
🏨 Where to Stay
Stay in Casco Viejo, the old town, for the rooftops and the walkable streets.
Viajero Casco Viejo Hostel · 8.1/10 · From €74/night
A sociable hostel in a colonial building, with private rooms and a rooftop bar.
Hotel San Felipe · 9.0/10 · From €165/night
A small boutique hotel in a restored building, steps from the main squares.
Sofitel Legend Casco Viejo · 9.5/10 · From €454/night
A waterfront landmark with views of the skyline and a rooftop pool.
🎯 What to Do
Panama City has a canal, a rainforest and the Caribbean all within reach.
Panama Canal and city tour: The Miraflores Locks, where ships rise and fall between two oceans, plus the old town and the Biomuseo.
San Blas island hopping: A day on the white-sand islands of the Guna Yala, with swimming and lunch.
Embera village and waterfall: A dugout canoe up the Chagres River to an Embera village, with a jungle waterfall and lunch.
Monkey Islands on Gatun Lake: A boat trip through the canal's lake to see monkeys, sloths and toucans up close.
🗺️ Where to Go From Here
Panama is the gateway to Central America and the Caribbean.
Bocas del Toro: Caribbean islands, beach bars and starfish, about 1 hour by air from Albrook airport. Search flights
San José, Costa Rica: The base for Costa Rica's volcanoes and cloud forests, about 1h20 by air. Search flights
Cartagena, Colombia: A colourful walled city on the Caribbean, about 1h15 by air. Search flights
€429 return from Madrid to Panama, with short stops and the dry season on your side. Late March has the lowest fare, so start there.
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