Single-engine plane went down shortly after taking off from the Show Low Regional Airport.
Police say 66-year-old Gerald Hatch and his 66-year-old wife, Ruth, were killed. The couple's son, Rob Hatch and his wife, Kelly, were critically hurt.
The plane was headed to Las Vegas when it crashed early Saturday morning. Federal investigators will determine what went wrong.
Gerald Hatch and his family ran several car dealerships in Show Low, Winslow and Snowflake.