The cheapest Madrid to Lanzarote return flight on the radar right now is €70, flying with Binter Canarias via one or more connections. It covers departures in July 2027, and every dated link below opens that exact MAD–ACE search on Skyscanner. That is roughly 20% below the €87 this route usually costs. Across 83 recorded checks it has ranged between €49 and €110. Our sampling points to July 2027 as the cheapest month to fly Madrid to Lanzarote.
Every fare here is re-confirmed against Skyscanner automatically, and each one is stamped with the moment it was last checked, so you can see how fresh it is instead of taking it on trust. Not flying from Madrid? We track 45 other departure cities for Lanzarote, listed at the foot of this page.
Fares move quickly. If this Madrid to Lanzarote price has gone by the time you search, shift the dates a day or two either side, because the same route is often still cheap just next door.