A Cessna 152 aircraft with two crew members on board disappeared on Tuesday over a mountainous area of Madden Lake, Xinhua reported.
The plane, HP-1518TC, traveling from Panama City to Colon Province, lost contact with the ground at 13:30 local time (1830 GMT) when it was over the lake, Manuel de la Hoz, a spokesman for the Authority of Civil Aeronautics, told Xinhua.
A search for the aircraft is under way.