One man is dead and another two have been winched to safety after their yacht capsized, triggering a major search and rescue operation off the central Queensland coast.
A snapped keel is believed to have caused the vessel to overturn off Lady Elliot Island near Gladstone early on Sunday.
The yacht was travelling from Yeppoon to Brisbane when it ran into trouble near coral cay, part of the Great Barrier Reef, causing the men to deploy an emergency position indicating radio beacon.
Police and emergency services launched a search and rescue operation involving multiple vessels, police divers and the RACQ LifeFlight Rescue helicopter shortly before 8.30am.
"Less than two hours later, the aeromedical crew managed to locate the men and performed two separate winch rescues, hoisting the men individually into the safety of the aircraft," LifeFlight said in a statement.
The two rescued men were father and son, aged 62 and 27 respectively and were taken to Bundaberg hospital where they remain in a stable condition.
The search continued for the third man, 65, and his body was recovered by police just after 2pm.
Police will prepare a report for the coroner.
