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There's no indication 'at this time' what caused the accident.
The C-130 Hercules exploded into a huge fireball on impact near Peak View, northeast of Cooma, NSW, after losing contact with the ground about 1.30pm.
Rescue crews rushed to the crash site on Thursday afternoon but found no survivors among the wreckage. The bodies have not yet been recovered.
The waterbomber was helping to fight a massive 250,000ha megablaze formed when at least four different fires joined together.
Lower the flag people.
'The brave Americans who died near Snowy Monaro died helping Australia in its time of need.