The jet lost contact with other fighters on the flight “minutes before reaching its target area”, the Philippine Air Force (PAF) said in a statement.
The Philippines has a dozen of the fighters purchased from South Korea in the last decade.
She declined to provide the exact nature or location of the mission, which saw the fighter flown out of the Mactan-Benito Ebuen Air Base.
“We are hopeful that we will still be able to recover” the aircraft and crew, she said. “We are still very optimistic that they are safe.”
The FA-50s have taken part in joint air patrols with treaty ally the United States over the contested South China Sea, where China and the Philippines have been involved in increasingly tense confrontations over reefs and waters.
Local outlet the Inquirer reported in January that the Philippine government was considering purchasing 12 more FA-50s.
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