According to media reports, the aircraft, operated by Meridian, was carrying over 11 tonnes of munitions from Nis, Serbia, to Amman, Jordan when it caught fire and was attempting to reach Kavala International Airport, coming down 35km west of the airport at 22.47 local time on Saturday 16 July.
It is reported to have been losing altitude over the Aegean Sea and was already on fire while still in the air.
Firefighters were unable to tackle the fire due to explosives, and army, explosive, and Greek Atomic Energy Commission experts used a drone to assess the site due to fears about the cargo being toxic.
The aircraft was transporting Serbian-made weapons and ammunitions bound for Bangladesh, according to reports.
Flight number 3032 was flying from Nis with stopovers in Amman, Riyadh, and Ahmedabad, and its final destination was Dhaka.
The aircraft, registration UR-CIC, entered service with Aeroflot in 1971 and acquired by Meridian in January 2022.