After five days of searching, the body of promising ice skater Morgan Innes has been found in Sydney Harbour, less than 200 metres from the scene of the collision that killed the teenager and three others.

Morgan's body was discovered the day before her parents Robert and Kim and 11-year-old brother Curtis had planned to return home to Queensland, following last Wednesday night's horrific crash near the Sydney Harbour Bridge.

It was spotted by crew onboard a Waterways Authority vessel about 150 metres east of the Sydney Harbour Bridge at about 1.30pm (AEST) today.

Marine Area Command Superintendent Terry Dalton said despite a massive search effort covering more than 90 hours, he was not surprised the body had been found at almost the exact point of collision.

He said bodies usually took about four to five days to surface.

Fourteen-year-old Morgan was one of a dozen members of Australia's ice-skating community on a sightseeing tour of the harbour when their 10-metre motor cruiser collided with a HarbourCat ferry.

Others killed in the accident were NSW Ice Skating Association (NSW ISA) president Alan Blinn, 47, NSW ISA member Simone Moore, 44, and a work associate of Dr Blinn's, a 45-year-old Frenchs Forest man still to be formally identified.

Eight others were injured, including Olympian Liz Cain, who lost part of a leg.

It emerged today that Ms Cain may also have suffered brain damage in the accident.

Supt Dalton said Morgan's body had been taken to Glebe Morgue for formal identification and a post-mortem examination.

He said he had been speaking with Mr Innes on the telephone in the moments before the body was found.

"I know that he was looking for closure so that the family could get on with their life," Supt Dalton told reporters.

"He asked me when he should go home, I said 'Well, let's look at Tuesday.'

"It just so happens that immediately after the phone call there was the report that the body had been found."

The owner of the motor cruiser, Peter Lynch, who is married to Ms Cain, contacted Morgan's parents to offer condolences after hearing news of the discovery today.

The teenager had been staying with the Lynch family while in Sydney for a seminar given by American Olympic coach Kathy Casey at the Canterbury Olympic Ice Rink.

Lynch family friend, lawyer John Foley, said Ms Cain had not properly regained consciousness in the intensive care ward at Royal Prince Alfred Hospital.

She has lung damage and may also suffer damage to her right leg, he told AAP.

"There are other complications with her as well; she had a severe blow on the head in the accident, which required a number of stitches," he said.

"Cat scans and things are showing up problems with the brain there, with blood.

"She may have (suffered brain damage), we don't know."

Ms Cain's son, Australian ice skating champion Sean Carlow, has been praised for his bravery after saving her life when she passed out after seeing her horrific leg injury.

Belgium ice-skating judge Rita Zonnekeyn, 46, is also among the injured after suffering a fractured hip. Her husband Walter Vandebroeke has flown to Sydney to be with his wife at St Vincent's Hospital.

Also in that hospital is Ms Cain's mother, Eve Cain, 70, who is in a satisfactory condition.