The Taupo Youthtown Trust Rescue Helicopter dropped a paramedic and two search and rescue workers to the group about noon.
Ruapehu Alpine Rescue Organisation chairman Hakan Svensson, who led the rescue, said the man was drifting in and out of consciousness when they arrived and had cuts on his face. The woman was bruised from hitting the rocks.
The group, from Palmerston North, had been staying at a hut on Turoa for Queen's Birthday Weekend and had woken early for the climb.
The young man was flown to Rotorua Hospital to be treated for facial lacerations and abdominal injuries and the helicopter took the rest of the group back to Turoa skifield.
Mr Svensson said conditions were good but there was a hard crust on the snow.
He said the group was well prepared and had the right equipment - with the exception of the injured man who had crampons that didn't fit his boots - including helmets.
"They did all the right things. At the end of the day it was just an unfortunate circumstance.
"With this ice being as smooth as it was it's easy to travel quite a distance."
Mr Svensson said the pair could have fallen much further and crashed into a larger rock or building if the smaller rocks under the ice hadn't slowed them down.
National Park police constable Conrad Smith, who ran the rescue operation, said the pair were very lucky.
"I've told plenty of people I've seen much worse injuries from doing the same sort of thing - slipping on the ice. It's pretty scary stuff, it's pretty fast."
Taupo Youthtown Trust Rescue Helicopter spokesman Nat Every said care needed to be taken with the change of season especially as the number of people in the area increased during long weekends.
"It's going from summer to an alpine environment so people need to be aware of the changing environments."
