cutaway
n.— «According to a spokeswoman for the Marina Airport-based Skydive Monterey Bay, reports of a fallen skydiver this afternoon were triggered by the freefall of some equipment. The equipment, involved in a procedure known as a “cutaway,” is usually held by the skydiver from leap to landing, but in this case was dropped before one of the afternoon skydivers reached ground.» —“No skydiver injured; fall involved a ‘cutaway’” Californian (Salinas, California) Nov. 14, 2008. (source: Double-Tongued Dictionary)
Further reading
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