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A plane crashed in Costa Rica on Sunday killing at least 12 people, a lot of them foreign tourists, the country's security ministry said.

A statement from the ministry said 10 foreign passengers and two Costa Rican crew members were aboard the plane belonging to Nature Air.

"The government vows to do everything necessary to help the victims' family members in whatever they need in this hard moment and sends them the solidarity of all the Costa Rican people", Solis said.

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European markets were down in early trade with Paris CAC 40 falling 0.11 per cent, while Frankfurt's DAX shed 0.29 per cent. In four days, shares of the company have zoomed 122 per cent adding Rs5,506.76 crore to its market capitalisation.

The crash happened near Punta Islita in the Guanacaste province according to Costa Rican officials who posted images of the burning wreckage amid a thicket of trees. "We are in contact with Costa Rican aviation authorities and will continue to monitor the situation", the spokesperson said in a statement to CBS News.

Authorities said that so far they had only a list of passengers provided by the airline and were awaiting official confirmation of their identities.

A plane crashed in Guanacaste, Costa Rica, in the Punta Islita area, December 31, 2017.

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Cubillo said the cause was under investigation.

The plane went down in a heavily wooded area.

Former Costa Rican President Laura Chinchilla wrote on Twitter that Juan Manuel Retana, her cousin, was among the dead.

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