A woman and five children had to jump into a lake for safety, after they detected a fire on board their cruise boat this afternoon.
The incident happened on Lough Derg close to the Co Clare shore at around 2.30pm.
The 35ft privately-owner cruiser was off shore from Twomilegate when the woman discovered the fire.
She raised the alarm and quickly evacuated the boat. The five children, all of whom were wearing lifejackets, jumped into the water and were able to swim ashore.
Staff at the Irish Coast Guard marine rescue sub-centre on Valentia Island in Kerry mounted a major rescue operation.
The Killaloe unit of the Irish Coast Guard along with the Shannon based search and rescue helicopter were alerted and dispatched.
Units of the fire brigade from Killaloe as well as several ambulances, a rapid response advanced paramedic unit and Garda patrols also raced to the scene.
On arrival at the location, emergency crews learned that the children had been taken on board a speedboat which had come to their aid.
The speedboat owner extinguished the fire and was able to drive the cruiser back to the harbour in Killaloe.
No one was injured in the incident.