Witnesses said the pilot had the plane in some aerial maneuvers when the plane didn't pull out of a dive and crashed into the ground between runways at the airport and burst into flames.
The pilot was identified at a 3 p.m. press conference.
The pilot's name was Bryan Jensen.
Thousands of people were watching the show that had been delayed by rainshowers in the area through Saturday morning.
Many left the airshow after the crash with looks of shock on their faces.
Airshow organizers have cancelled the show for the rest of today- but tickets for today's show will be honored for Sunday's show.