A Bangladesh Air Force F-7 BGI trainer aircraft crashed shortly after takeoff, crashing into a college and school compound.
The crash killed at least 27 people and left 88 others, including children, hospitalized with varying degrees of injuries.
The Bangladeshi military said the crash occurred during a routine training flight due to mechanical failure. The pilot was among the dead.
Authorities have declared a day of mourning nationwide. Flags on government buildings were flown at half-mast, and prayers were held at all religious institutions.
A special investigation team has been set up to investigate the circumstances of the crash.
According to Jane's Information Group, the F-7 BGI is the latest and most technologically advanced model of the Chengdu J-7/F-7 family of aircraft manufactured in China. Bangladesh signed a contract in 2011 to purchase 16 such planes, the deliveries of which were completed in 2013.
