Meaning 1 ►▼
to take water out of a boat; to parachute out of a plane that is going down
Bail out the ship. We're sinking. We better bail out of the plane. We're on fire.
Meaning 2 ►▼
to help, to save
The government is bailing out the savings and loan banks.
In boating or sailing the term,, bail out, is used to save the boat. In parachuting it is used to get out of the plane.