They alerted their Honduran counterparts, and were able to follow it all the way to Honduras.
The Honduran air force boarded the craft and seized the drugs.
The Colombian Air Force said the new intelligence-sharing deal, which came into force in July, helped them co-ordinate the operation with their Honduran colleagues and allowed them to act quickly.
The two forces carried out joint operations last month in an effort to "close the Caribbean airspace to drug traffickers".
Honduras is a main gateway for cocaine smuggled from Colombia.