A rescue basket having the capacity to safely hold two full-sized individuals increases the efficiency and effectiveness of helicopter water rescue and recovery operations. The rescue basket includes an open end, which affords an additional option for loading passengers, along with a door mechanism that can at least partially close off the open end for passenger safety. The rescue basket includes a flotation system that maintains the basket at a desired flotation level when completely immersed in water, along with sufficient reserve buoyancy to safely maintain the passengers above water when loaded. Methods of performing a water rescue utilizing the present rescue basket on board of a helicopter are also provided.