August 12/10 A Learjet 55C had just departed from Rio’s downtown waterfront Santos Dumont airport, declared an emergency and returned. Either it blew a rear tire on take-off, or on the return landing - a rear tire blew, and the aircraft over ran the runway into the bay.
Aircraft was operated by OceanAir, the three persons on board all escaped the partially submerged learjet.
oglobo.globo.com/rio/fotogaleria/2010/12362/ photos
[Pilot] “I thought I was still in my 185 with floats???” 
That was actually the 6th biz jet to go off into the bay there, two Lear 55’s, a Lear 23 and three Citations.
As for today’s accident, the Lear was actually a lot further out in the water, it taxied under its own power back to shore. There is a video of the event, I should have a link tomorrow for it.
Google Translation;
Plane was in the air five minutes before the accident, says director of Ocean Air
The director of Ocean Air, Ricardo Santos, said in entrevistra conference on Thursday (12) that only those investigations may reveal whether the accident this morning with the Learjet aircraft the company was caused by an electronic or mechanical breakdown.
He said the plane “lost part of communications and the indication of instruments” and was "just five minutes in the air before falling in the Guanabara Bay while trying to land at Santos Dumont airport. The plane was hoisted from the sea only late in the afternoon, and the airport had to suspend takeoffs and landings to facilitate the work of teams.
Also according to the director, the initial report of the Center for Investigation and Prevention of Aeronautical Accidents (Cenipa) should be ready in five days. Already a parallel investigation of the company should be finalized in 30 days, extendable by up to 90 days.
Santos said the plane shortly after takeoff from Santos Dumont in the direction of Antonio Carlos Jobim International Airport, the pilot has identified “the technical problem.” He would then have chosen to return to Santos Dumont, and as lost communications, had to use the transponder (a device that aims to position the aircraft on radar) to signal to the tower that was having problems.
He said the aircraft came to land and go through the 1460 meters on the track, tried to give a “hobby horse” (a maneuver), failed to stop and crashed into the sea, the two meters away from the track. With the fall, the nozzle of the aircraft was damaged.
The four passengers who would catch the plane at Tom Jobim, also according to Santos, were relocated to another aircraft company and are already at their destination, in Pernambuco. The director would not confirm whether the presenter Xuxa one of the passengers, citing “confidentiality agreement”. The advice of the presenter confirmed that she would embark on an aircraft.
In a statement issued earlier by the company, the three crew were rescued without injuries and referred for medical evaluation, with monitoring of Ocean Air
The press office of Infraero in Brasilia said the initial actions of research has begun to be implemented by the Centre for Investigation and Prevention of Aeronautical Accidents (Cenipa).
Read full note of the official Ocean Air Air Taxi disclosed in the morning
"The Ocean Air Air Taxi states that on the morning of 5th. Fair, August 12, the aircraft Learjet 55, prefix PT-lxo of your property, skidded off the runway while landing at Santos Dumont Airport in Rio de Janeiro, falling low altitude waters of Guanabara Bay. The three crew were rescued without injuries and referred for medical evaluation, with monitoring of the company.
The Ocean Air Air Taxi has begun investigations to determine the cause of the accident and reaffirms its commitment to the most stringent security procedures in flight and on earth. "
Better video - showing the Lear under power in the water returning to shore.
Video and photos . . .
Reminds me of the CJ in New Jersey that went into the water, I know there is a thread here somewhere, but very kool video if you’ve never seen it.