What is Madrid airport minimum connection time (MCT)?

I have been able to make my Qantas RTW booking and have a question that someone may be able to help with.
I’m flying from LAX to Madrid, arriving at 14:15 and want to connect to a flight to Alicante the same day. I can find a flight to Alicante departing at 15:55 but don’t know if 1hr 20 minutes is enough time for transit from international arrivals to domestic departures. Can anyone help?
Any feedback will be appreciated.

If it is part of the same ticket, I would feel much better around this arrangement. But I assume with you mentioning this as part of an RTW trip that this Alicante flight will be on a separate itinerary. 1hr and 20min is usually fine pre-covid but I am a bit wary nowadays. It depends on your risk tolerance and your desire to ‘run for it’. Definitely see your options IF you miss your connecting flights first before deciding.

The plan is to have the Madrid-Alicante return sectors incorporated into the RTW booking that I already have. As you know, when booking RTW or Multi-city travel on the Qantas website you can only book 6 sectors so I had to book the main destinations and am now trying to fill in the gaps on the same ticket.

Ok, if you have it all part of the same booking then theoretically, even if you don’t make your connecting flight, you will be rebooked. That reduces the risk of spending any extra unforseen out of pocket costs a lot. Again, it’s up to you!