UPDATE 9 0931 EST

A Bombardier CL-600 Challenger has apparently skidded off the end of the runway at Teterboro Airport in New Jersey, crashing into a building and sparking a major fire.

Here's the amazing news: It appears that no one died in the firey accident.

New York radio station WCBS reports its traffic helicopter pilot flew near the scene of the Wednesday morning accident, saying the Challenger broke through the airport barrier fence and slammed into a building across Highway 46.

The aircraft carried as many as eleven passengers and crew members. Witnesses say the aircraft appeared to have reached full speed on its take-off run, but never got off the ground.

As the speeding jet crashed through the barrier fence and crossed the highway, authorities say it impacted several vehicles along the road. New Jersey state troopers said their initial count showed two people injured and eleven missing.

Authorities at Teterboro Airport say the aircraft was headed for Chicago's Midway Airport.

The aircraft came to rest inside a warehouse at the end of the runway. The left wing was separated from the fuselage and the wreckage was burning. Fire crews were spraying foam on the fuselage, which appeared to be intact.

The aircraft, N370V, is a 1980 model CL-600 Challenger registered to a company called DDH Aviation, based near Love Field in Dallas.

The NTSB's Peter Goelz told Fox News that investigators would take an early look at what he called "cold soaking" -- especially in the wake of another corporate accident in Colorado late last year, in which a television executive's son was lost.

The weather appeared clear and the temperature was approximately 28F at the time of the accident. There appeared to be plenty of snow accumulated on the ground -- and at the end of the active runway, although the runway itself appeared clear and dry.

NTSB Launches 'GO' Team

The National Transportation Safety Board has launched a Go- Team to investigate the accident today involving a corporate jet aircraft at Teterboro Airport in New Jersey. Bill English will be the Investigator-in-Charge (IIC). NTSB Member Deborah Hersman will accompany the team and serve as principal spokesperson for the on-scene investigation.

This story is getting major airplay on the nation's cable news channels and some of the real-time commentary is pretty embarassing. Aero-News will update this story throughout the day, as details develop.

FMI: www.faa.gov