Copa Airlines, a member of the Star Alliance, is putting its direct San Francisco to Panama City route on sale for $411 round-trip, direct, including taxes, between January 2017 and May 2017.
Availability appears great, even over Martin Luther Kind Day and Presidents’ Day.
To find this deal, use Google Flights and search for non-stop flights between SFO and PTY.
I have taken Copa’s direct flight from San Francisco to Panama City before, and I especially love their red-eye, which, at just over 7 hours, can yield in just the right amount of sleep to enjoy your morning in Panama City.
If you don’t mind a layover (bringing the trip to 10+ hours) or need American/Oneworld miles, American has flights for as low as $376 for those same dates.