The present invention provides methods and apparatus for reducing sinkage and wetted surface, and thus hydrodynamic drag of a high-speed boat through the generation of aerodynamic lift while decreasing overall aerodynamic drag. At least one lift-generating front wing proximate a bow section of the boat with at least one corresponding front air channel may be provided. At least one lift-generating rear wing proximate a transom section of the boat with at least one corresponding rear air channel may also be provided. At least one of the wings may be adjustable to generate aerodynamic lift with one of: (1) a neutral; (2) a transom-lifting; and (3) a bow-lifting pitching moment about a center of inertia of the boat. At least one wing proximate the leading edge of the tunnel of a multi-hull boat may be provided to increase the operational envelope.