The cheapest Madrid to Yerevan return flight on the radar right now is €124, flying with Pegasus Airlines via one or more connections. It covers departures in December 2026, and every dated link below opens that exact MAD–EVN search on Skyscanner. At 52% under the €257 we normally record here, it is one of the strongest MAD–EVN fares in our index. Across 7 recorded checks it has ranged between €120 and €279. Our sampling points to December 2026 as the cheapest month to fly Madrid to Yerevan.
Prices are re-checked against Skyscanner automatically, and every one shows when it was last confirmed, so nothing here is older than it looks. Not flying from Madrid? We track 18 other departure cities for Yerevan, listed at the foot of this page.
Prices like this tend to vanish fast. If it has gone when you look, try the days either side of the dates above, since Madrid to Yerevan is often still worth booking within a day or two of the fare we found.