New York City emergency officials are racing against the clock to rescue the passengers on US Airways Flight 1549, which was headed from LaGuardia airport to Charlotte North Carolina when takeoff failed and the plane plunged into the Hudson River, CNN reports.
A Coast Guard ferry is on-site dropping lifejackets in the icy river waters.
According to witnesses, the plane approached the water at a gradual angle and then made a huge splash.
The plane could be holding as many as 179 passengers plus its crew.
There are no reports as of yet on the cause of the crash, or the number of survivors or casualties.