Bega accountant David Stephens departed Wangaratta in Victoria in his 1966 Beechcraft Debonair on Tuesday and was expected to arrive at Moruya Airport in New South Wales that afternoon.

He was reported missing when the aircraft failed to reach its destination. 

The multi-agency search operation was hindered by weather conditions and unforgiving terrain, but yesterday evening when crews located the plane around its last known location near Khancoban.

It was found on “snow-covered mountainous terrain in the Kosciuszko National Park, east of Khancoban”, according to the Australian Transport Safety Bureau.

Riverina Police District Commander Superintendent Andrew Spliet told reporters this afternoon that it was clear from the wreckage that there had been a “significant impact” into the terrain.

“It’s fairly clear that wouldn’t be survivable,” he said.

“You wouldn’t recognise it as a plane. It’s just a significant impact. Obviously, a fair bit of speed into the mountain range there, which has completely destroyed that aircraft.”

Spliet said the identity of the pilot was still unconfirmed.

NSW Police has taken charge of the investigation.

A recovery operation is under way, with investigators and crime scene officers attending the scene to determine the cause of the collision and try to identify the pilot.

Spliet said the weather on Tuesday was “fairly unpleasant” and “not ideal”.

The Australian Transport Safety Bureau, which launched its own investigation, is working closely with NSW Police to gather evidence and retrieve pieces of the aircraft.

“Investigators are also collecting relevant recorded information, including ADS-B flight tracking data, weather information, and pilot and aircraft maintenance records,” the bureau said in a statement.

The Australian Transport Safety Bureau will hand down its preliminary findings in about two months.

Stephens’ family issued a statement yesterday, saying he was an experienced pilot who had been flying for about 60 years.

“David loved to fly. He earned his pilot’s licence even before his driver’s licence in the 1960s,” his family said.

“Unfortunately, David disappeared on his flight home.

“It is known that the mountain weather can turn very quickly and we have to assume he must have seen a way over the mountain and decided not to turn back to Wangaratta.

“David has quite a bit of experience flying that plane, but we can’t know what situation he was facing and we’ll only have answers once they locate the plane and with that, David.”

Stephens was only two months out from retiring, and his family had been looking forward to spending time with him.