Russell ferry skipper Bill Elliot remains in a stable condition in Middlemore Hospital five days after he was critically injured in a collision with a high-speed powerboat.

The well-known owner and skipper of Waitere, better known as the Blue Ferry, was airlifted to the South Auckland hospital’s spinal unit after last Thursday’s crash.

At the time a St John spokesman said he had suffered serious head wounds and a suspected spinal injury.

The 77-year-old underwent spinal surgery on Friday.

A spokesperson for Middlemore Hospital said he was in a stable condition as of noon today.

His vessel, built in 1944 and in service in the Bay of Islands since 1990, was salvaged from 6-8m of water on Saturday. It is currently at a Bay of Islands boatyard along with the sports fishing boat involved in the collision.

The incident is being investigated by police, Maritime NZ and the Transport Accident Investigation Commission.

A witness told the Advocate she saw the powerboat heading directly for the ferry at high speed with no one visible at the helm.

At least one passenger was thrown into the water but, remarkably, no one else was injured.

The ferry was crowded with school holiday visitors at the time.

The Waitere at Bay of Islands Boatyard, where it is being examined by marine accident investigators. Photo / Peter de Graaf

The extent of the damage makes it unlikely the historic ferry can be restored.

The other vessel was a Boston Whaler 305 Conquest powered by twin 300-horsepower outboards.

The registered owner of the powerboat died in March.

The Advocate has so far been unable to confirm who was operating the boat at the time of the crash.

A woman at the family’s Bay of Islands holiday home said they would not be commenting because an official investigation was underway.

She referred the Advocate’s enquiries to the investigation team.

Maritime NZ investigators inspect the sports fishing boat involved in the collision that left a Russell ferry skipper critically injured. Photo / Peter de Graaf