Diving equipment includes a compressed air bottle connected to a breathing apparatus and an inflatable jacket via which buoyancy is balanced by the jacket being connected to the compressed air bottle to be inflated or to an outlet to be deflated. A monitoring device is activated via a control valve as a function of surrounding water pressure and has a time monitoring unit which, after the expiry of a defined time and in the absence of breathing activity in the breathing apparatus, changes to emergency operation and activates an emergency valve via a control line connecting the jacket to the compressed air bottle to force inflation of the jacket. Actuation of at least one regulating valve is influenced during a dive by the monitoring device and/or the control valve. In manual activation, the jacket is inflated via the inflation valve, and the compressed air is bled via the outlet valve.