Mike Lynch's superyacht seen on the surface for the first time since it sank
Seven people died when the Bayesian sank off the Italian island on August 19, including billionaire Mr Lynch, 59, and his daughter Hannah, 18.
The 56-metre (184ft) yacht was seen being held in an upright position by one of Europe's most powerful sea cranes near the fishing town of Porticello on Saturday morning.
A project insider told the PA news agency: 'The vessel is on surface, but not clear of the sea as yet.
'Pumping out of water will continue, and it will be lunchtime – following a series of lifting and resting procedures – before she will finally be fully and finally out of the water.'
Salvage workers could be seen on the vessel, which is covered in mud and algae, while the canopy and guard rails are mangled.
The full word 'Bayesian' could be seen on the stern of the yacht, and a ladder which Italian Coastguard officials say was originally on the yacht to allow passengers to disembark was seen cracked and pointed upwards on the starboard side.
Also visible on the top deck was the stump of the mast. Salvage workers say there was 18,000 litres of fuel on board.
Investigators in the UK and Italy say raising the vessel is crucial to fully understanding what happened.
Balloon-like kit will be used to lift the Bayesian's mast, the project insider said.
The yacht's 72-metre (236ft) mast was cut off on Tuesday using a remote-controlled tool and rested on the seabed.
He told PA: 'Lifting bags will be used on the mast, but this will not start until Tuesday or Wednesday.
'In the interim, the salvors on-site not accompanying Bayesian to port will be conducting a full sweep of the seabed site for any potential debris.'
Meanwhile, Michele Maltese, of the Italian Coastguard, told reporters on Saturday that thermal cameras are being used to check for any potential fuel leaks.
A local law investigator is also at the scene, he said.
Over the last few days, salvage teams have worked to ease the hull into an upright position and give access to the yacht's right side, which had previously been lying flat on the seabed 50 metres below the surface.
The vessel is expected to be brought to Termini Imerese – where Italian prosecutors investigating the sinking are based, and on Monday it will be lifted on to a specially made steel cradle on the quayside.
It was originally expected to be raised last month, but salvage efforts were delayed after a diver died during underwater work on May 9, prompting greater use of remote-controlled equipment.
About 70 specialist personnel had been mobilised to Porticello from across Europe to work on the recovery operation, which began last month.
Inquest proceedings in the UK are looking at the deaths of Mr Lynch and his daughter, as well as Morgan Stanley International bank chairman Jonathan Bloomer, 70, and his wife, Judy Bloomer, 71, who were all British nationals.
Marine Accident Investigation Branch investigators said in an interim report the Bayesian was knocked over by 'extreme wind'.
The yacht had a vulnerability to winds, but the owner and crew would not have known, the report said.
US lawyer Chris Morvillo and his wife Neda Morvillo, and Canadian-Antiguan national Recaldo Thomas, who was working as a chef on the vessel, also died in the sinking.
Fifteen people, including Mr Lynch's wife, Angela Bacares, were rescued.
Mr Lynch and his daughter were said to have lived in the vicinity of London and the Bloomers lived in Sevenoaks in Kent.
The tycoon founded software giant Autonomy in 1996 and was cleared in June last year of carrying out a massive fraud over the sale of the firm to Hewlett-Packard (HP) in 2011.
The boat trip was a celebration of his acquittal in the case in the US.
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Water is being pumped out of the British superyacht owned by Mike Lynch as it was seen upright on the surface of the water for the first time since it sunk off the coast of Sicily last year. Seven people died when the Bayesian sank off the Italian island on August 19, including billionaire Mr Lynch, 59, and his daughter Hannah, 18. The 56-metre (184ft) yacht was seen being held in an upright position by one of Europe's most powerful sea cranes near the fishing town of Porticello on Saturday morning. On Friday recovery crews were able to pull the yacht to the surface but only the passenger area was visible. A project insider said: 'The vessel is on surface, but not clear of the sea as yet. 'Pumping out of water will continue, and it will be lunchtime – following a series of lifting and resting procedures – before she will finally be fully and finally out of the water.' Salvage workers could be seen on the vessel, which is covered in mud and algae, while the canopy and guard rails are mangled. Salvage workers said there was 18,000 litres of fuel on board. Michele Maltese, of the Italian Coastguard, told reporters on Saturday that thermal cameras are being used to check for any potential fuel leaks. A local law investigator is also at the scene, he said. The full word 'Bayesian' could be seen on the stern of the yacht, and a ladder which Italian Coastguard officials say was originally on the yacht to allow passengers to disembark was seen cracked and pointed upwards on the starboard side. Also visible on the top deck was the stump of the mast. The rest of the Mast was cut off on Tuesday and rested on the seabed where a balloon-like will be used to lift the remaining mast. British and Italian investigators are raising the vessel to fully understand what happened the night it sank. It was originally expected to be raised last month, but salvage efforts were delayed after a diver died during underwater work on May 9, prompting greater use of remote-controlled equipment. Inquest proceedings in the UK are looking at the deaths of Mr Lynch and his daughter, as well as Morgan Stanley International bank chairman Jonathan Bloomer, 70, and his wife, Judy Bloomer, 71, who were all British nationals. Marine Accident Investigation Branch investigators said in an interim report the Bayesian was knocked over by 'extreme wind'. The yacht had a vulnerability to winds, but the owner and crew would not have known, the report said. US lawyer Chris Morvillo and his wife Neda Morvillo, and Canadian-Antiguan national Recaldo Thomas, who was working as a chef on the vessel, also died in the sinking. Fifteen people, including Mr Lynch's wife, Angela Bacares, were rescued. Mr Lynch and his daughter were said to have lived in the vicinity of London and the Bloomers lived in Sevenoaks in Kent.
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