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Cool video, but how many times do the wings fall off those things that parachutes for the plane are a standard feature?
Parachutes are required when carrying non-crewmembers and doing more than a 30 degree pitch or 60 degree bank. But it's pretty much universal that acrobatic pilots wear chutes, their accredating agencies may require them.
Parachutes for people yes. Parachutes for planes, no.
I think the results pretty well speak for which may be a better choice. What would the pilot's chances have been of unassing the plane and hitting the silk before hitting the ground?
Unless he had Martin-Baker, his goose would have been cooked.
He is also very lucky about whatever rule was keeping him at that altitude doing aerobatics.
Sean Tucker, etc. type of aerobatics, his low alititude act, would not give enough margin for a BRS.