The action of Faial or the Battle of Faial Island was a naval engagement that took place on 22–23 June 1594 during the Anglo-Spanish War in which the large and rich 2,000 ton Portuguese carrack Cinco Chagas was destroyed by an English fleet after a long and bitter battle off Faial Island in the Azores. The carrack, which was reputedly one of the richest ever to set sail from the Indies, was lost in an explosion which denied the English, as well as the Portuguese and Spanish, the riches.