Indonesian search and rescue workers had since found debris and possibly the fuselage of the nearly new Boeing 737 MAX 8.
The 2-month-old Boeing 737 MAX 8 plane plunged into the Java Sea on Monday just minutes after takeoff from Jakarta, killing all 189 people on board.
Indonesia's military chief said he believed the plane had been located, and a transport safety official said divers would be sent to confirm the origin of a "ping" signal picked up by a search and rescue team late on Tuesday.
"It's unlikely to be an MH370 type situation because the plane went down in about 30m of water so hopefully the CVR and the FDR can be retrieved and we can find out what happened in those 13 minutes between taking off and crashing into the ocean".
"I predict there are no survivors, based on body parts found so far".
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The devices record information about the speed, altitude and direction of the plane as well as flight crew conversations and could hold vital clues to the cause of the deadly accident.
It was the worst airline disaster in Indonesia in more than two decades and renewed concerns about safety in its fast-growing aviation industry, which was recently removed from European Union and USA blacklists.
Privately owned Lion Air, founded in 1999, said the aircraft had been in operation since August and was airworthy.
The day before the crash, the same aircraft experienced a hard takeoff from Bali, with passengers "panicking and vomiting" when the plane lurched with rapid descents until it eventually stabilised.
Mr Ayorbaba, who travelled often around Indonesia for business, shared the video on WhatsApp with his wife, Inchy Ayorbaba, the Associated Press reported.
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But other attacks carried out by Islamic State (IS, formerly ISIS) have been far more deadly. The Islamic State group claimed the attack in a message via its propaganda agency Amaq.
It showed passengers' boarding passes being checked and people walking along a concourse and then down stairs with bright red and white Lion Air jets visible on the tarmac. We ask for prayers for the best.
Flight JT610 of a low-priced Lion Air airline, bound for the city of Pangkal Pinang, located on the Indonesian island of Bangka, lost contact with the traffic control at 6:33 a.m. local time on Monday (23:33 GMT on Sunday) shortly after departure from Jakarta's airport.
It has had issues of safety and poor management in the past and was banned from flying into European airspace until 2016.
Lion Air is one of Indonesia's youngest and biggest airlines, flying to dozens of domestic and global destinations.
The airline didn't respond to requests to verify a document purporting to be a Lion Air maintenance report, dated Sunday, that described inaccurate airspeed and altitude readings after takeoff. The ban was completely lifted in June.
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Jakarta, a sprawling megacity of more than 10 million people, is known for having some of South-East Asia's worst traffic congestion.