Well, IMHO when one sees someone being loaded up in the simulator and the pressure comes on then 'panic' is not so very far away and many of the symptoms of panic start to show!
It is possible that if a person in an aircraft has too many things going wrong at the same time and a disasterous outcome is inevitable then, I believe panic could easily set in? Possibly more an effect than a cause?
I don't think one can honestly say that panic and flying are mutually exclusive.