MacBook Air crashes, restarts and gives this error
Your drive is failing.
The key to this diagnosis is this error message in the panic report:
&gt; Root disk errors: &quot;Could not recover SATA HDD after 5 attempts.
&gt; Terminating.&quot;

To fully diagnose this, install macOS to an external drive.  If your MBA starts to function normally, you've narrowed it down to your drive.  (It can be a USB flash disk - it's only for testing purposes).
Luckily (as &quot;lucky&quot; as one can get in this scenario) the drive isn't soldered to the logic board so you do have the opportunity to replace it with another (128GB: PN# 656-0021A or 256GB PN# 661-02396).  It's not too difficult a fix, you just have to remove the back cover and disconnect the SSD.  ifixit.com has a good walk through.
Now, you DO have a backup, right?
If not, the good news is you can buy a sled or cable and attempt data transfer after you put a new drive in. Since reading data often works after writes to a failing drive are not happening. Sooner you power off and start data transfer the better.