The custom-made PAC 750XL - manufactured by Hamilton-based Pacific Aerospace and operated by Skydive Taupo - involved in yesterday's accident.
A Tauranga man leapt for his life as the plane he was in stalled midair with engine problems before plummeting into Lake Taupo.
Joe Dyson, 29, was one of 13 people who escaped without injury after their skydiving plane crashed shortly after midday yesterday.
The six crew were due to tandem skydive with the six passengers and all were able to parachute out of the aircraft in tandem moments before the plane nose-dived into the water. No-one was injured.
Close calls are not new to Mr Dyson who has also experienced a chute malfunction in his more than 3000 skydives.
"The plane just sort of lost altitude ... there was just a big splash."
When Mr Kelly, a grocer from Wellington who is holidaying at Rainbow Point, got to the crash site, about a kilometre away, there were already two other boats that had collected some of the parachutists.
A police boat arrived about ten minutes later, followed by other emergency services and a helicopter.
For about an hour Mr Kelly helped collect floating debris.
Mr Kelly said the crash had been a shock but he was just happy nobody appeared to be seriously hurt or killed: "I don't want to go parachuting, that's for sure".
The Transport Accident Investigation Commission (TAIC) has opened an inquiry into the incident, securing evidence including the wreckage, aircraft and flight information, and gathering initial accounts from those involved as well as witnesses.
The inquiry would focus on identifying what occurred and why. A full inquiry could take up to 18 months, the TAIC said.
Civil Aviation Authority spokesman Mike Richards said it was miraculous no-one was killed.
Mr Richards said more details about the crash would be released later as it was still "really, really early days" but a safety investigation team was already reviewing the incident.
Skydive Taupo chief executive Roy Clements said in a statement that one of its skydiving planes "encountered an engine problem shortly after take-off".
"All, including the pilot, exited the plane and landed safely."