U.S. investigators suspect that Malaysia Airlines Flight 370 stayed in the air for up to four hours past the time it reached its last confirmed location, according to two people familiar with the details, raising the possibility that the plane could have flown on for hundreds of additional miles under conditions that remain murky.

The investigators believe the plane flew for a total of up to five hours, according to these people, based on analysis of signals sent by the Boeing 777's satellite-communication link designed...