I guess you turn off the key and enjoy the ride down:') I watched a documentary where they were experimentally putting them on small planes. Very cool but mega bucks.
Unless that thing gets wrapped around the propeller or a wing. Seems like a bad idea to me as too many things could go wrong. If you are flying in a severe storm and have to deploy the chute ... you and the plane could be sucked up several thousand feet aloft until you are a giant 30ft hailstone.
No thanks to parachutes for airplanes, IMHO!
: )