Oneworld member Iberia is currently selling discounted premium economy tickets from Madrid to Costa Rica‘s capital, San Jose and Panama City. Prices start at €889 for a round-trip from Lisbon to San Jose. The fare includes 2 checked bags of up to 23kg each. Dates to Panama are scattered from April to June 2026, except for Madrid, which also has dates from September to November. You can fly to Costa Rica until March, after that, Iberia stops offering premium economy on this route.
To Panama City:
You can fly from other Spanish cities for slightly more than €1,000.
Discounted tickets to Costa Rica are only available from Portugal:
Our availability calendar highlights all possible flight dates for less than €1,000, for trips up to 28 days. It will forward you to Skyscanner with your selected flight dates. From there, you can proceed to Iberia or check what OTAs have to offer.
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Iberia serves the two cities with Airbus A330-300 and Airbus A350-900 aircraft. The comes with 2-3-2 seating in premium economy, the latter offers 2-4-2 seating in premium economy, compared to the 3-3-3 in economy. Of course, the seat pitch is also bigger. The seat alignment in the A350 cleverly reduces the number of middle seats:
Most EU citizens can stay in Costa Rica for up to 180 days without a visa. The duration of your stay is dependent on the customs officer.
Most EU citizens can stay in Panama for up to 90 days without a visa.
Search & Book
According to the fare rules, this fare doesn’t have an expiration date, nor does it have a minimum or maximum stay.
Dates to Panama are scattered from April to June 2026, except for Madrid, which also has dates from September to November. You can fly to Costa Rica until March, after that, Iberia stops offering premium economy on this route.
Google Flights is the best way to find suitable dates and other departure airports. Especially with departures from other airports, the tool gets increasingly unreliable. We recommend booking directly on Iberia’s website.
Editor’s Note: Decent fare from the Iberian Peninsula to Central America. While we have seen slightly cheaper offers in the past, it’s the best deal currently available. The next best offer comes from Air France, is €200 more expensive and doesn’t even include checked bags.
Miles & Points
Iberia issues premium economy segments in booking class T. A non-stop roundtrip to Panama will be rewarded like this:
- 10,564 Avios + 60 Qpoints on Qatar Privilege Club
- 10,564 AsiaMiles + 70 Club Points on Asia Miles
- 10,564 Points on Finnair Plus
- 10,564 Miles on Japan Airlines Mileage Bank
- 10,564 Points + 12 Elite Points on Malaysia Airlines Enrich
- 10,564 Award Miles on Royal Air Maroc Safar Flyer
- 10,564 Miles on Royal Jordanian Royal Club
- 10,564 Award Miles on LATAM Pass
- 10,564 Award Miles on Avianca LifeMiles
- 10,564 Miles on Alaska/Hawaiian Atmos Rewards
- 6,370 Avios + 1,460 Elite Points on Iberia Plus 2025
- 5,300 Miles on American AAdvantage
- 4,770 Avios + 794 Tier Points on British Airways Club
- Customize Calculation
Destination
Information & Tips for San José, Costa Rica
San José, the capital of Costa Rica, is a common starting point for travelers exploring the country. Key sights include the National Theatre, the Pre-Columbian Gold Museum, and the lively Central Market. The local currency is the Costa Rican colón (CRC), though U.S. dollars are widely accepted. Prices are moderate by Central American standards—cheaper than the U.S., but not budget-travel cheap, especially in tourist areas. The weather is generally mild year-round due to the city’s elevation, with a dry season from December to April and a rainy season from May to November.
→ All Dealz for San José, Costa Rica
Information & Tips for Panama
Panama City blends modern skyscrapers with colonial history, most notably in the Casco Viejo district with its plazas and churches. The famous Panama Canal is the city’s top attraction, with visitors often stopping at the Miraflores Locks. The official currency is the Balboa, though U.S. dollars are used interchangeably and are the main form of cash payment. Prices are moderate compared to North America—cheaper local eateries and transport exist, but touristy areas can feel pricey. The climate is hot and humid year-round, with a distinct rainy season from May to November.
→ All Dealz for Panama
Cover Picture: © Iberia