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This question already has an answer here:

In case of emergency I think parachutes would be more safe than life-jackets.

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marked as duplicate by abelenky, fooot, Dave, Pondlife, Ben Dec 21 '18 at 22:58

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    $\begingroup$ Have you ever actually worn a parachute? They are big, bulky, heavy, and uncomfortable. They cannot be put on or removed quickly. If you're already wearing one, it will make it difficult to evacuate the plane. If you don't have one on already, there will not be time to put it on when an emergency happens. $\endgroup$ – abelenky Dec 21 '18 at 21:22
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Completely aside from how on earth 150 people would bail out of a pressurized aircraft, all expected to be able to jump into freefall in the first place, at high altitudes where they would be dead from hypoxia or exposure after a minute or two...

You wear a parachute when the risk of the "skydive" is less than the risk of staying with the airplane. This risk balance only occurs when flying military aircraft (getting shot at or single jet engines with airplanes that glide like bricks), gliders (because of the midair risk in competitive soaring) and aerobatic aircraft (because of the risk of the pilot making it come apart).

Otherwise, not worth it.

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