The wreckage of a former military jet that crashed into waters off Melbourne killing the pilot and a Masterchef cameraman on board has been recovered from Port Phillip Bay.
The four-metre-wide fuselage was lifted out of the water by a crane and onto a barge before it was covered in a tarp and taken back to shore on Saturday morning.
Stephen Gale, 56, and cameraman James Rose, 30, went down in one of two Viper S-211 Marchetti planes that collided about 1.45pm on Sunday during a formation flight.
They were filming a Jetworks Aviation promotional video about 12km west of Mount Martha when the planes collided.
The second aircraft was able to land safely at Essendon airport.
Victoria Police confirmed on Wednesday the bodies of Mr Gale and Mr Rose had been found after crews located the wreckage of their plane off Mornington.
Pilot Stephen Gale, 56, and Mr Rose were reported missing after the ex-fighter jets collided about 12km west of Mount Martha, in Melbourne's southeast
The wreckage of the jet with Mr Rose and Mr Gale believed to be on board was pulled ashore on Saturday afternoon (pictured)
Police said wreckage from the plane was located off the shore of the Mornington Peninsula on Monday evening following a massive search operation.
'Investigators are working to establish the exact circumstances of the incident and investigations remain ongoing,' a police statement said.
'They believe the aircrafts would have been visible from Mount Martha between 1pm and 2pm on Sunday.'
Police are keen to speak to anyone who may have witnessed the incident.
Authorities including the Air Transport Safety Bureau are investigating the circumstances of the crash
It is understood Mr Rose was shooting footage for an aviation company's promotional video
The grim discovery comes as the harrowing mayday call by the surviving pilot reveals what happened in the aftermath of the collision.
'Viper 1 … mayday, mayday, mayday,' the surviving pilot said.
An air traffic control operator then replies: 'Viper 1, roger your mayday. You anticipate Viper 1 in the water?'
'I am anticipating Viper 2 in the water… we can see a splash mark,' the pilot responded.
Victoria Police confirmed bodies were discovered inside the plane on Monday night which are believed to be those of two men reported missing (pictured, search efforts earlier this week)
Mr Rose was on one of two Viper S-211 Marchetti fighter Jets (pictured) flying in tandem on Sunday, when the the aircrafts collided about 1.40pm
James's father David Rose said he was proud of his son as members of his family gathered at the Mount Martha Life Saving Club earlier this week.
'He is recognised as one of the best drone operators in Australia and worked on all the big name TV shows,' he told the Herald Sun.
'That's why he was up there, in the plane today.'
Both planes are operated by Jetworks Aviation and run 45-minute joy flights costing $7750, that simulate a military fighter jet experience with 'only one wing span separating the aircraft'.
'After you both kit up and take the obligatory photos (while you looking fresh faced), you will experience your combat leaders brief to prepare for the upcoming sortie,' the website reads.
'You and your wingman will simultaneously depart Essendon Airport as a close formation pair. The two aircraft will perform some air show style formation aerobatic manoeuvres before separating into the dynamic combat formation.
'After crisscrossing over the bay in a modern dogfight, the two aircraft will return in formation passing close to Melbourne's beautiful skyline.'