"One team member caught his teammate and brought him into Queens Dock. Our safety procedures worked perfectly and a huge thank-you to Whitehaven Marina for getting them out of the water so quickly."
People at the air show, which also included the Red Arrows, praised the men on Facebook.
Sarah David wrote: "Glad to hear both are ok, was awful watching them struggling, especially when they veered off course — until we realised they were purposely targeting the biggest area of water for ditching in to."
The Red Devils team was formed in 1963 and carries out more than 60 displays every year.
It comprises 12 serving soldiers from the three battalions of the Parachute Regiment, all of whom have to have at least three years' experience.
- AAP