It said 149 passengers and eight crew members were believed to be on flight ET302 from Addis Ababa to Nairobi in Kenya.
The airline added that there were 33 different nationalities on board.
The crash happened at 08.44 local time, six minutes after the flight took-off from the Ethiopian capital.
It is not yet clear what caused the accident.
The Ethiopian Prime Minister's office has expressed condolences to the bereaved families hinting at a number of deaths on the office's official Twitter page, Trend reports citing Sputnik.
An Ethiopian Airlines spokesman has reportedly confirmed that the flight has crashed with 149 passengers and eight crew members on board.
According to the spokesman, the incident occurred at 8:44 a.m. local time.
The plane was en route from Addis Ababa, Ethiopia to Nairobi, Kenya.
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