THIS is the terrifying moment a £1.4million superyacht bursts into flames before sinking near the party island of Ibiza.

A blaze took hold of the 91ft-long Da Vinci yacht with seven people onboard off the coast of Formentera in the Med.

Footage taken on Monday shows a huge fire engulfing the whole of the vessel.

Thick black smoke pours into the sky while the Da Vinci sways in the bright blue water.

Flames curl from the cabins and the ferocious inferno roars away.

All four passengers, two crew members and the captain were evacuated and in a “good condition”, according to rescuers.

But despite the best efforts of marine fire crews, the Da Vinci was destroyed by the fire and sank.

It went down 7.3 miles south-west of the Balearic island Formentera, according to Superyacht Times.

The fire reportedly started in the engine room and quickly ripped through the lux boat – though it isn’t clear exactly what sparked it.

A large red fire-fighting vessel rushed out, and images show it dousing the burning wreck with a jet of water.

In a post on X on Monday, the local marine rescue said: “CCS Palma deployed Guardamar Concepción Arenal and Salvamar Naos, which also transported firefighters.

“The seven crew members have been evacuated by the Naos to land in good condition.

“The fire could not be controlled, and the yacht has finally sunk.

“The Guardamar remains in the area cleaning up debris.”

The fire initially appeared to be under control, but the blaze escalated when rescue boats began to pull the yacht, according to Ultimate Hora.

The yacht was manufactured by Astondoa, and part of their 95 GLX series, manufactured between 1997 and 2004.

It features accommodation for ten guests on top of an owner’s suite.