(Newport, OR) -- The U.S. Coast Guard has suspended the search for a small plane that crashed into the ocean west of Newport, Oregon. It was reported just before one o'clock local time Monday afternoon. The 78-year-old pilot was the only person on the twin-engine plane. The aircraft reportedly entered the water at a high rate of speed, and the pilot wasn't seen getting out. The 12-hour search covered 124 square miles. The pilot remains missing.