- Plane had 81 on board, including Brazilian club football players
- Police said five survivors from the crash have been rescued
- Plane coming from Bolivia crashed in Colombia around 10:15 pm local time
Players Alan Luciano Ruschel, Marcos Danilo Padilha and Jacson Ragnar Follmann were listed as survivors in a statement. Passengers Rafael Correa Gobbato and Ximena Suarez also survived.
Members of Chapecoense Real, a Brazilian football club, were heading to Colombia to play in the South American Cup finals. The event has now been cancelled.
The LAMIA airlines flight originated in Brazil and had made a stop in Santa Cruz, Bolivia before heading to Colombia.
A Medellin airport statement said the plane reported an emergency at 10 pm local time. "It declared it had electrical failures," said an official.
It went down about 50 km from Medellin, Colombia's second largest city, in an area called Cerro Gordo.
Earlier reports had suggested that the plane ran out of fuel.
"May God accompany our athletes, officials, journalists and other guests traveling with our delegation," the Brazil football club said in a brief statement on its Facebook page.
A video posted on the page showed the team readying for the flight earlier Monday in Sao Paulo's airport.
The team, from the small city of Chapeco, was in the middle of a fairy tale season. It joined Brazil's first division in 2014 for the first time since the 1970s and made it last week to the Copa Sudamericana finals - the equivalent of the UEFA Europa League tournament - after defeating Argentina's San Lorenzo squad.
(With inputs from agencies)