The aircraft, a C-130 Hercules transport plane, veered off the runway at El Alto International Airport and crashed into an avenue, destroying multiple cars and damaging trucks, local media footage showed.

Colonel Pavel Tovar of the National Fire Department told reporters that "between 15 and 16 (dead) people have been counted" in the disaster.

"We are recovering the bodies of these people who have sadly suffered in the accident," he said.

The Ministry of Defense confirmed the crash, without providing further details. At least two dozen other people were wounded, according to reports.

Fatalities were recorded both at the airport and on the busy avenue where the crashed plane struck several vehicles. Mangled parts of the aircraft were seen on the roadway.

The Bolivian Air Navigation and Airports authority NAABOL said in a statement that the C-130 departed from the eastern city of Santa Cruz and crashed while landing at the international airport, which suspended its operations.

The C-130 Hercules -- manufactured by Lockheed Martin -- was carrying Bolivian banknotes, which scattered upon impact.

Footage from local media showed police using tear gas to disperse people who approached the crash site to gather the money.

It was not immediately known what caused the crash.

La Paz, at an altitude of 3,650 meters (11,975 feet) and surrounded by Andean peaks, is the highest administrative capital in the world.