The plane crashed Sunday, just short of a runway at Yampa Valley Regional Airport in Hayden, Colo., The Denver Post reported.
Authorities have not officially released the names of those on board, however, the newspaper reported the plane was registered to Scott A. Humpal, a Texas businessman.
Humpal's wife, Gabby, and their pilot were killed, Scott Humpal said in a Facebook post Sunday night.
"Our family was in a plane accident today in Steamboat, Colorado....my wife and our pilot passed away. We are devastated....my wife was a woman of God and I am sure that Jesus welcomed her into heaven with open arms...the boys and I have several injuries but will recover.....Sara has some very serious injuries.....please pray for her!!.....thank you all for your concern...please pray for the Humpal and the Huerta families and pray hard for Sara...," Humpal wrote.
Humpal, his wife and three children were traveling to Steamboat Springs, Colo., for a ski vacation.
Airport manager David Ruppel said the National Transportation Safety Board is investigating the crash.