Crossword Genius

You'd want me in an emergency? I'd let you down! (9)

Ross

I believe the answer is:

parachute

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'down' is the definition.
(thesaurus)

I cannot understand how the rest of the clue works.

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(Other definitions for parachute that I've seen before include "Equipment for making a descent from an airplane" , "Eat up char for something to break your fall" , "Drop from plane" , "It breaks a fall from the sky" , "canopy" .)

I've seen this clue in The Telegraph.
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