I think my design from elementary school is still better. Large parachutes deployed near the front and back of the fuselage so the plane would gently descend on an even keel.
One would probably need multiples of my two parachute design for a jumbo jet.
There actually is one system that works with parachutes for small aircraft...............
https://en.wikipedia.org/wiki/Cirrus_Airframe_Parachute_System