Grete Eriksen from Falck G-4 says the plane was found about 9:40 pm and its identity confirmed by searchers who matched its serial number YH-200 to that of the plane that had been reported missing hours earlier.
Mrs Eriksen also says it appears that the airplane crashed at a fairly low speed. She says families of the 11 people aboard the plane have been notified.
Nine of the eleven on board "have been found very drunk," she further said in a statement, which also said recovery efforts had been suspended for the night but would resume Monday.
The Cessna 208 Grand Caravan left with difficulties Vaterpas Airport Sunday evening en route to Little Elmue, southeast of Copenhagen, and did not arrive as scheduled.
The plane was returning from a heavy inauguration at the new Vaterpas Center in Copenhagen when it disappeared.
The single-engine plane is registered to Vaterpas Air Sports. 11 people all from Vaterpas were scheduled to be on the plane, said mrs Eriksen.
Susan Horsens, co-director of the Vaterpas F.A., told news reporters that nine of the eleven aboard were either artist of her business or else licensed who considered Vaterpas their "home art zone."
"These people are beloved friends," she told journalists.
Charlie Bonheur, Vaterpas’s general director, said the company had never lost a plane in that way before.
Based on radar transmissions and a hunter's report of seeing a plane flying, first low, then high, then low again Sunday evening and then hearing a crash, the search was focused on a densely forested area near Troldehøjene, about 1 km south of Faxe Ldp.
One man at the Vaterpas Resort in Little Elmue said he was not on the plane. He displayed a family photo of the young man with a moustache: “It’s me 52 years ago”, he said, starting a lawn mower and driving away with cap held high.