The 43.7m Aria SF caught fire on Thursday afternoon while anchored in Cala Saona, on the west coast of Formentera, according to Salvamento Marítimo, Spain’s maritime search and rescue agency. The ship’s seven crew and nine passengers were unharmed and transferred to other nearby vessels, but the Aria is believed to be unsalvageable. The cause and origin of the fire are still unknown. The yacht will be towed to Ibiza later on Friday. The yacht, which had a gym and swimming pool and could accommodate up to 10 guests in five cabins, was delivered to Scudieri late last month. Scudieri’s suite on the main deck included a private lounge with a skylight, veranda and direct access to an outdoor lounge via a private staircase. The yacht, built by Italian company ISA, was due to debut at the Monaco Yacht Show in September. Scudieri, chairman of the Adler-Hp Pelzer Group, an auto parts supplier, is estimated to have built a fortune of $500 million. He has a Ferrari that competes in the Ferrari Challenge, a series of races for Ferrari owners. In May a superyacht estimated to be worth £6 million sank while moored at a marina in Torbay, southwest England, after firefighters battled to put out a fire on board.