A Filipino geothermal energy company has described the loss of four of its employees, including two Australians working as consultants, as an "unthinkable tragedy".
Simon Chipperfield and Karthi Santhanam were killed when a Cessna 340 crashed on Saturday morning.
Also killed were pilots Rufino James Crisostomo and Joel Martin.
"Tragically, there were no survivors. My heart goes out and my condolences go to the families of two Adelaide men who were on that flight," Mr Albanese told reporters in Adelaide on Thursday.
"My condolences also to the people of the Philippines for the Filipino nationals who have lost their lives in this tragedy."
The prime minister said Department of Foreign Affairs and Trade officials were providing assistance to the families of the two Australians.
"They are in direct contact and the family's wishes will be respected," he said.
The men were working for the Energy Development Corporation, which said it stood "in compassion and deep sorrow with the families of our fallen Kapamilyas in this unthinkable tragedy".
"We are working with authorities to bring them home to their loved ones where they may rest in peace," the company said.
"Our heartfelt sympathies go to their families and friends at this difficult time."
The plane came down near one of the country's most active volcanoes shortly after taking off from Bicol International Airport in the Alby region for the hour-long flight to Manila.
The victims were brought down from the site on Thursday after a search involving almost 200 troops, firefighters and volunteers, including veteran mountaineers that was hampered by heavy rains, gusty wind and thick clouds.
The wreckage was spotted from the air on Sunday on the slopes of the 2462-metre volcano but an air force helicopter only managed to ferry the search team near the crash site on Wednesday morning after the weather improved.
Only the tail section of the plane remained intact with the rest of the wreckage scattered on the barren upper slopes of the Mayon volcano, Eric Apolonio, a spokesman for the Civil Aviation Authority of the Philippines said.
Villagers are normally prohibited from entering a permanent danger zone around the volcano, which last erupted in 2018, displacing tens of thousands of people.
But a monitoring agency allowed the high-risk search and rescue effort with a warning for team members to be alert for sudden emission of volcanic ash and gas or sudden mudflows if rain fell on the slopes.
The deaths of the four men were confirmed on Thursday by Foreign Minister Penny Wong.
"On behalf of the Australian government, I wish to extend our deepest sympathy to the families of the two men Simon Chipperfield and Karthi Santhanam - both from Adelaide, my hometown - as well as the Filipino nationals involved," Senator Wong told reporters in Fiji.
"The families of those who we have lost will be grieving and I express not only our sympathy and condolences but to say to them, our hearts go out to them in this time of great grief."
Senator Wong also acknowledged the families of two soldiers killed during the search and rescue operation.
The soldiers were shot on Monday by five suspected communist New People's Army guerrillas in a market where they were buying supplies, military officials said.
Mr Chipperfield and Mr Santhanan both previously worked with oil and gas company Santos in Adelaide.
with Associated Press
