Dramatic video has emerged showing the moment a plane crashed into the drag strip of a racing club in Iceland, killing two of its three occupants.

The footage, which was filmed in August 2013 but broadcast for the first time this week, captures the aircraft smashing into the tarmac at Akureyri and bursting into flames.

Miraculously, one of the occupants of the plane - a Beechcraft King Air 200 air ambulance - survived, according to Visir.is/365 News.

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