Update: Plane debris found. Unlikely to find survivors. Looks like for the time being another case of a plane being lost to bad weather.
"AirAsia Indonesia regrets to confirm that flight QZ8501 from Surabaya
to Singapore has lost contact with air traffic control at 07:24hrs this
The aircraft was an Airbus A320-200 with the registration number PK-AXC."
Update: This looks bad. QZ8501 last recorded near Pulau Belitung in the Java Sea. The usual news will be about searching for it. The plane should have landed at 8:30 am in Singapore this morning.
Bad weather would be hard to say as the plane was flying at over 33,000 feet / 10 km from sea level, way above most of where the weather occurs. A plane that follows maintenance schedules strictly and flown by experienced pilots doesn't just fall out of the sky. Will have to wait and see for more hard facts.