(Reuters) – American Magic’s hopes of challenging Team New Zealand for the America’s Cup were dealt a blow when their yacht “Patriot” capsized on Sunday but the U.S. team say they are confident of getting back on the water for the semi-finals later this month.

American Magic were denied their first points of the Challenger Series when their vessel went airborne and hit the water before falling on its side after encountering a massive gust of wind while leading Luna Rossa.

Skipper Terry Hutchinson said on Monday the team would use parts from their back-up boat “Defiant”, with the main challenge being repairs to the electronic system as the hydraulic piping did not sustain too much damage.

“We’ll live to fight another day,” Hutchinson told reporters. “From here that has to be the goal.

“The beauty of our team is there’s a high level of resolve, I think that we’re going to see over the next eight to 10 days is the boat being rebuilt.

“She might not come out of the shed as pretty but we’re going to get back into racing. The team’s committed to it.”

With the semi-finals beginning on Jan. 29, American Magic have little time to repair the damage to their boat, though thankfully the crew escaped with just bumps and bruises.

“We’re all good, just a little bit bruised,” said Hutchinson. “While the boat had a bit of damage to her, the crew is safe. That’s all you can ask for.”

INEOS Team UK lead the series standings with four wins from as many starts. The top team goes in the Challenger Series final while the second and third-placed teams contest the semi.

The winner of the series will take on defenders TNZ from March 6 for the America’s Cup.

(Reporting by Shrivathsa Sridhar in Bengaluru; Editing by Peter Rutherford)