The boat, sail number GBR 78, was towed past the Royal Yacht Squadron on a barge on the first day of the Cowes Week regatta and given a traditional Maori farewell.

Wight Magic will be shipped to Southampton docks where she will be transferred to a transporter for the drive to Stansted airport.

The 80ft America's Cup Class yacht will then be flown to New Zealand on a giant Russian Antonov transport plane on 7 August.

She is expected to arrive in Auckland, via Singapore and Bangkok, on 10 August.

GBR Challenge founder Peter Harrison said: "I'm thrilled that the build team has been able to build the second boat so fast.

"Flying out the second boat will give us five or six weeks of final practise and tune up time, which will be quite demanding on the team but will give us the maximum boat-selection options between rounds."

"I have named her Wight Magic to continue the theme of linking with our team base on the Isle of Wight, where the auld mug was first contested 151 years ago.

"Wight also has a spiritual meaning of spirit, courage and enterprise, as well as magical connotations.

"Our ultimate ambition is to see Wight Magic up against Team New Zealand's Black Magic, racing for the America's Cup."

The Louis Vuitton Cup challengers' series for the right to race Team New Zealand in the America's Cup begins in Auckland on 1 October.