Two pilots were killed when their planes collided Sunday during the National Championship Air Races and Air Show in Reno, Nevada, organizers of the event said.

"Around 2:15 p.m. this afternoon, at the conclusion of the T-6 Gold race, upon landing, two planes collided and it has been confirmed that both pilots are deceased," the Reno Air Racing Association said in a statement posted on Facebook.

The identities of the pilots have not been released.

Organization leaders were working to inform next of kin and "ensure families have all of our support," the statement added.

No other injuries were reported, it added.

"Additional information will be released as soon as it is available. All racing operations are currently suspended," it said.

The National Transportation Safety Board said in a statement sent to CNN it is investigating the cause of the crash. The agency, which is leading the probe, identified the two aircraft as a North American T-6G and North American AT-6B, and said they had just completed the race.

"The wreckage of each plane came to rest one-half mile from each other," NTSB said, adding the wreckage will be taken to an off-site facility for analysis.

Event organizers said they are cooperating with the NTSB, the Federal Aviation Administration and "all local authorities to identify the cause of the accident and ensure that all of our pilots, spectators and volunteers have the necessary support during this time."

The event, which has been running for more than five decades, prides itself in being an "institution for northern Nevada and aviation enthusiasts from around the world," according to its website. Over the past decade, the event has brought more than a million spectators and "generated more than $750 million" for the regional economy, according to the site.