The family were holidaying in Cyprus

Peter and Alison Rainey, from Scotland, were in an inflatable dinghy which capsized in rough seas off Paphos.

Their nine-year-old son Callum, who was also on board the dinghy, survived and is receiving hospital treatment.

The couple's six-year-old daughter Catriona, who watched the incident from the beach, was also being treated for shock.

Both children are understood to be receiving psychological counselling.

The family, from Dollar in Clackmannanshire, had been holidaying near the resort in south-west Cyprus.

Mrs Rainey, 41, and Callum were thought to have taken the inflatable dinghy into the sea.

Little boat

A police spokesman in Cyprus said the vessel had overturned in windy conditions on Tuesday morning.

"Alison Rainey was with her son in a little boat in the St George area of Peyia village in Paphos," he said.

"They were about 100 metres from the coast when the boat turned over because there was a lot of wind, and Alison and Callum fell into the sea.

"Peter Rainey was watching what happened and he swam to help them."

He said the trio climbed back into the dinghy but were thrown back into the sea when the vessel overturned again.

The trio had been on board a dinghy

They were rescued by people on the beach and given first aid, police said.

All three were taken by ambulance to a hospital in Paphos, where Mr and Mrs Rainey were pronounced dead.

The spokesman added: "Callum was detained for treatment. His situation is serious but he is not in danger."

Mr Rainey, 49, is a former Royal Navy helicopter pilot who ran a company teaching night flying.

Mrs Rainey, who worked under her maiden name of Lessells, was a senior executive in micro electronics with Scottish Enterprise.