First of all, a commercial airplane flies at about four hundred miles an hour, try jumping out in that much wind. second, it’s much easier to show people how to use a life vest than it is to teach people how to strap themselves in, how to strap other people in, and how to properly use and descend with a parachute.
Third, parachutes weigh at least 10 times as much as a life vest. And finally fourth, in most emergency landings/crashes, the pilots are experienced enough to safely descend the airplane to an altitude and speed in which most people live
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