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 .

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