The series, about the airline's jet-setting staff, has faced a huge drop in viewers in the U.S. and was rumoured to be on ABC chiefs' culling list.
The rumours were seemingly confirmed by actress Vanasse, who took to her Twitter.com page to claim there is only a handful of episodes left to air early next year (12).
However, executives at the channel have denied the show is heading for a crash landing, insisting it is still in production.
A statement reads, "Nothing has changed. We are not cancelling Pan Am. We are still in production and will continue to be in production finishing the original 13 episodes plus one more additional one.
"We have one more original episode this coming week, December 4, and then will return in January with new episodes, airing all of them.
"Pan Am is still in contention for next season. We won't know about that until our upfront announcement in May."