An evacuation system and method for an airplane. The evacuation system and method consists of an evacuation cabin that is positioned within an airplane, and that is deployed through a trap door in the bottom of the airplane. The evacuation cabin is positioned on guide rails that control up and down movement. One or more parachutes located at an upper portion of the evacuation cabin control its velocity when deployed. A flotation device positioned at the bottom of the evacuation cabin may be used in the event of a water landing, or an as impact attenuator.