In the Balkan Wars of 1912–13 he was executive officer on the torpedo boat "Aspis", with which he participated in the capture of Lesbos (November 1912), the Battle of Lemnos (5 January 1913) and the operations of the Ionian Squadron (February 1913). He was then posted as commander of the destroyer "Sfaktiria". After the Balkan Wars, he was promoted to Lt. Commander (28 September 1913), and Commander (13 April 1915). Following the establishment of the Provisional Government of National Defence, he left his post and joined the new government at Thessaloniki on 1 October 1916. He was appointed captain of the ironclad "Hydra" and commander of the provisional government's naval academy, which was established on board the vessel. At the same time he served as chief of staff to the Thessaloniki Squadron commander. Following the return to Athens of Eleftherios Venizelos and his assumption of government of the entirety of the country in June 1917, Panas became captain of the light cruiser "Elli", being promoted to captain on 26 December 1917. He remained captain of the "Elli" through World War I and until 1919, when he was appointed Director of the Hellenic Naval Air Service.