A superyacht has sunk off the coast of a popular European holiday location after it burst into flames.

The £1.4million Da Vinci yacht, which measured at 91ft long, had seven people on board when it was engulfed in flames.

Footage taken at the beginning of this week shows the vessel on fire off the coast of Ibiza.

A superyacht has sunk off the coast of a popular European holiday location after it burst into flames

Thick black smoke could be seen coming from the Da Vinci as flames took over.

The four passengers, two crew members and captain were all evacuated from the boat and were in a "good condition", according to rescuers.

However, despite efforts of marine fire crews, the yacht sank, having been destroyed by the fire.

The incident took place just over seven miles southwest of Formentera, the smallest of the Balearic islands, according to Superyacht Times.

It is believed the fire started in the engine room, however it is now known what caused it

It is believed the fire started in the engine room, however it is now known what caused it.

Images showed a large red fire-fighting vessel rushed out to the burning yacht, before dousing it with jets of water.

The local marine rescue posted on social media on Monday, saying: "CCS Palma deployed Guardamar Concepcion Arenal and Salvamar Naos, which also transported firefighters.

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

All seven people on board were safely evacuated

However, it added: "The fire could not be controlled, and the yacht has finally sunk.

"The Guardamar remains in the area cleaning up debris."

The yacht, which was manufactured by Astondoa between 1997 and 2004, could accommodate ten guests, not including the use of the owner's suite.