Shoot an explosive ahead into water on the collision-course to disperse and soften the impact.
Flying over ocean in a rickety aircraft and don't want to strap into a bulky parachute? No worries, just pack a bubblechute instead.
Bubblechute is a canister (a bomb really) filled with compressed air. As you jump out of your plane you grab a bubblechute along. You chuck it ahead of you just before you impact water. Bubblechute explodes under the surface releasing a huge swarm of air bubbles that break water surface tension and let you settle into the ocean as if it was a fluffy bed.
Warning: improper throwing technique or incorrect timing side effects include: mild headache, bruising and death.