Its last known location was just after it had requested a flight path change because of bad weather. It disappeared off of radar about five minutes later. There were 162 people on board.
Multiple countries have sent aircraft and ships to try and locate the wreckage from the aircraft. No distress signal was ever sent out from the plane. Searchers have no idea at present what happened to the aircraft, but they do have a rather good idea where it went down.
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Source: http://news.yahoo.com/tv-plane-162-aboard-missing-indonesia-034017659.html
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Graphics: Mine
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Keywords: AirAsia, Flight 8501, missing plane, Indonesia, search