The pilot of a plane which plunged into a bay near Sydney killing a Bucks businessman and his family members was likely affected by carbon monoxide exposure, investigators have found.

Hyde Heath businessman Richard Cousins, the chief executive of a FTSE 100 catering giant, died alongside his two sons Edward and William, fiancee Emma Bowden and her 11-year-old daughter Heather when a sightseeing trip on New Year's Eve 2017 ended in tragedy.

The de Havilland Canada DHC-2 Beaver, piloted by Canadian Gareth Morgan, who also died, plunged into water in Jerusalem Bay, 25 miles north of Sydney city centre.

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The Australian Transport Safety Bureau (ATSB) released its final report on Friday under the heading: Hawkesbury floatplane accident highlights the insidious danger of CO exposure.

Bucks Free Press: The seaplaneThe seaplane

The bureau's chief commissioner Greg Hood said: "The ATSB has worked closely with medical experts to determine the pilot would have almost certainly experienced affects such as confusion, visual disturbance and disorientation.

"Consequently, the investigation found that it was likely that this significantly degraded the pilot's ability to safely operate the aircraft."

A preliminary report from 2018 said the plane hit an area of water away from the expected and standard flight path, crashing in a near-vertical position.

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In July the bureau delivered an update which said blood tests indicated the pilot and two of the passengers had elevated levels of carbon monoxide.

Bucks Free Press: The accident locationThe accident location

The final report revealed cracks in the aircraft's exhaust and holes in its firewall "very likely" allowed carbon monoxide the cabin.

"This investigation reinforces the importance of conducting a thorough inspection of piston-engine exhaust systems and the timely repair or replacement of deteriorated components," Mr Hood said.

"In combination with maintaining the integrity of the firewall, this decreases the possibility of CO entering the cabin."

The report recommended the use of "attention attracting" carbon monoxide detectors.

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"The ATSB strongly encourages operators and owners of piston-engine aircraft to install a CO detector with an active warning to alert pilots to the presence of elevated levels of CO in the cabin. Where one is not fitted, pilots are encouraged to carry a personal CO detector," Mr Hood said.

Bucks Free Press: The seaplane is recoveredThe seaplane is recovered

The bureau said the investigation would have been aided if the aircraft had been fitted with an on-board recording device.

Mr Hood said ATSB was formally recommending that the International Civil Aviation Organisation and Australia's Civil Aviation Safety Authority "consider mandating the fitment of lightweight recording devices to smaller passenger-carrying aircraft".

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Mr Cousins had a house in Hyde Heath, near Amersham, and played cricket at Hyde Heath Cricket Club.

He moved to the Chilterns in around 2000 with his first wife Caroline, a teacher, who passed away after a battle with cancer.

Friends and colleagues described Mr Cousins as "well known and respected" after he helped transform Compass' fortunes upon becoming the ailing catering firm's boss in 2006.