Bungy operator AJ Hackett Bungy is investigating an incident at its Nevis Swing in Queenstown last month in which the harness holding two Australian riders slipped during flight.
AJ Hackett Bungy co-founder and director Henry van Asch said "basically the harness was loose and they slipped during the ride".
The 23-year-old male and 22-year-old female were unharmed and the company has said it was launching both internal and external investigations.
Mr van Asch said the company was governed by Bureau Veritas and Occupational Health and Safety.
He could not say when the external investigations were due to be released but did say the internal investigation would not be made public.
Nevis Swing opened in 2008 and is part of the AJ Hackett bungy franchise which includes the Kawarau Bridge and The Ledge in Queenstown, as well as the Auckland bridge in Auckland.
When asked why Nevis Swing had released a statement yesterday when the incident occurred on April 16, Mr van Asch said "it was just the day we decided to release it".
