On September 25, 2003, at 1126 eastern standard time, a Grumman HU-16C, N70258, registered to Corsair Aviation Holdings Inc. and operated by an airline transport pilot, collided with a stand of trees during an emergency landing in the vicinity of the St. Lucie International Airport, Ft. Pierce, Florida. The personal flight was operated under the provisions of Title 14 Part 91 with no flight plan filed. Visual meteorological conditions prevailed at the time of the accident and the airplane was destroyed. The airline transport pilot received minor injuries. The airline transport rated co-pilot and passenger were fatally injured. The flight departed the St. Lucie International Airport, on September 25, 2003, at 1120.

According to the pilot, during the climb-out from runway 09, the right engine rpm began to fluctuate. At an altitude of approximately 500 feet the right engine chip detector light illuminated, and the pilot completed an engine emergency shut down procedure. The pilot imitated a heading to a left downwind to runway 09. The pilot informed the control tower of the airplanes current condition, and that he would make an attempt to land on runway 14. As the airplane continued on the left downwind, the left engine rpm began to decrease. As the engine rpm continued to decrease, the pilot was unable to maintain directional control and could not turn the airplane towards runway 14. The pilot contacted the control tower to inform them that he was unable to land on runway 14, and he would continue his downwind and land on runway 09. As the airplane continued on the downwind, the pilot was unable to maintain altitude. The pilot prepared to make an off-airport emergency landing in a field. The airplane stalled and collided with the trees as the pilot maneuvered for the emergency landing.

Examination of the wreckage revealed the airplane came to rest on a 270-degree magnetic heading 3 miles northwest of the airport. Approximately 10 feet of the outboard left wing was sheared off. The right fuel pod was located forward of the fuselage in a run-off stream. The fuselage was broken off aft of the landing gear, and came to rest on top of the right wing with horizontal and vertical stabilizer still attached. The right wing was attached to the fuselage and had leading edge crush damage. The right engine was attached to the wing, and the right propeller was located 20 feet forward of the fuselage. The cockpit and cabin section of the fuselage displayed heavy crush damage. The left engine was attached to the left wing, and the left propeller was attached to the engine.