Indonesia Transport Plane Crash Kills At Least Five
At least five people have been killed in a military transport plane crash in a residential area of the Indonesian city of Medan, officials say.
Local TV reported that the Hercules crashed into two houses and a car and burst into flames.
Military spokesman Fuad Basya told the BBC that the plane came down soon after take-off and that there were at least 12 crew members on board.
Officials say that bodies were recovered from the plane wreckage.
A major rescue operation is under way at the crash site which is still covered in flames and thick black smoke.
Large crowds are watching the emergency services search the flaming wreckage, with the fuselage of the aircraft visible through the thick plumes of smoke. Buildings in the area of the crash were clearly damaged.
"I saw the plane from the direction of the airport and it was tilting already, then I saw smoke billowing," a local resident told the AFP news agency.
Correspondents say that it is the second time in 10 years that a plane has crashed into the Medan neighbourhood.
In September 2005, a Boeing 737 came down in a crowded residential area shortly after take-off from Medan's Polonia airport, killing 143 people including 30 on the ground.
The latest crash in Medan is the third involving military aircraft since 2009.
In 2012 nine people were killed after an Indonesian air force plane crashed into a housing complex in the east of the capital, Jakarta.
And in 2009 an Indonesian military transport plane carrying troops and their families crashed on the island of Java, killing 98 people.
Source: BBC
Indian Food Delivery Unicorn Zomato Likely To File For IPO Next Month
Food delivery unicorn Zomato is planning to file for an Initial Public Offering (IPO) by April which could raise $65... Read more
Vietnams Bamboo Airways Aims Third-quarter Listing With Market Cap Of $2.73b
Vietnam’s startup Bamboo Airways said on Friday it aimed to list its shares on a local stock exchange in the thi... Read more
Didi Chuxing Advances IPO Plans To Next Quarter, Targets $62b Valuation
Chinese ride-hailing giant Didi Chuxing Technology Co. is accelerating plans for an initial public offering to as early... Read more
Warburg-backed Kalyan Jewellers IPO Loses Shine, Sees Tepid Demand
Kalyan Jewellers India Ltd’s initial public offering was oversubscribed by just 1.28 times on Thursday, a sign of tep... Read more
Chinese E-commerce Platform DMall Hires Banks For Over $500m US IPO
Chinese e-commerce platform Dmall (Beijing) E-commerce Co has hired Bank of America, Goldman Sachs and JPMorgan for a... Read more
Tencent-backed Chinese Software Firm Tuya Eyes $915m In US IPO
Tuya Inc., a software company backed by New Enterprise Associates and Tencent Holdings Ltd., is on track to raise $915 ... Read more