
The US National Transportation Safety Board said it was investigating the crash of "a North American P-51D" in the city of Fredericksburg.
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The P-51 Mustang served in the Pacific and other theaters of World War II, as well as during the Korean War.
Fredericksburg is home to the National Museum of the Pacific War, which said on Twitter that there were two victims, one of whom was a veteran.
"At this time we have no further information," the museum tweeted.
According to the museum website, an outdoor show about the "equipment and weapons" used in the Pacific theater, including a battle re-enactment, was to take place on Saturday.
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Attempts to reach the museum for further comment were not immediately successful.
Pictures from the San Antonio Express-News showed wreckage of the silver plane in a parking lot, where vehicles appeared damaged.
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