© Nelson Almedia / AFPBrazil's Chapecoense players pose for pictures during their 2016 Copa Sudamericana semifinal second leg football match against Argentina's San Lorenzo held at Arena Conda stadium, in Chapeco, Brazil, on November 23, 2016
However, the mayor of the municipality of La Ceja, Elkin Ospina, said the number of those killed is believed to be 25, indicating a much larger number of survivors.
Sputnik reported that six people survived the crash, citing José María Córdova International Airport in Rionegro, where the plane was traveling to.
Other reports say that up to 10 people have survived, with the commander of La Union fire department stating that 10 people were initially evacuated from the scene.
Alan Ruschel, a defender for Chapecoense, is among the survivors and has arrived at a nearby hospital, according to 360 Radio Colombia. He has been taken to radiology in stable condition.
Goalkeepers Marcos Danilo and Jakson Follmann have also survived, along with a flight attendant.
The mayor of nearby Medellín, Federico Gutierrez, who is at the crash site, told Blu Radio that there may be more survivors, but that access to the crash site is complicated.
He said "the most important thing is to save lives," after calling the incident is a "tragedy of huge proportions."
A press release from aviation authorities said the chartered aircraft declared an emergency at 10pm local time on Monday (0300 GMT) due to an electrical failure.
However, Ospina previously said it appeared the aircraft ran out of gas, El Universo reported.
The plane, operated by Venezuelan airline Lamia, was reportedly carrying 72 passengers and nine crew members when it crashed in a mountainous area outside Medellín.
"The plane broke in two and the situation is complex," Ospina said, as quoted by Noticias RCN.
The secretary of security of Medellín said the aircraft has been split into two parts.
The country's civil aviation authority has set up a unified command post at the airport, El Universo reported.
Gutierrez said the city's hospital network has been alerted and officials from the Administration Department of Disaster Risk Management have been sent to the site.
Access to the crash site can only be reached by land due to current weather conditions, the airport wrote on Twitter. An air force helicopter was forced to turn back due to low visibility, according to AP.
The aircraft had originated in southern Brazil but made a stop in Santa Cruz, Bolivia, before traveling towards its destination in Colombia. The same plane had previously transported the national teams of Argentina and Venezuela, according to local radio.
The team was traveling to compete in the Copa Sudamericana finals. Chapecoense was scheduled to compete against Colombia's Atlético Nacional at 6:45pm local time on Wednesday, at Atanasio Girardot stadium in Medellín.
The team from the small city of Chapeco joined Brazil's first division in 2014, for the first time since the 1970s. It made it to the Copa Sudamericana finals last week, after defeating Argentina's San Lorenzo squad.
After learning of the crash, the South American football confederation CONMEBOL announced that "the activities of the confederation are suspended until further notice."
The confederation's president, Alejandro Dominguez, is on his way to Medellín.
Comment: Update (10.50 CET):
Police director General José Acevedo Ossa has said 75 people died in the crash. He added that the search has been suspended because there are no more survivors at the site. A civil aviation official also said a high death toll from the crash is "undeniable," stating that there are six confirmed survivors.
Update: Brazilian football team took doomed flight after being denied charter request