According to newspaper Correio da Manhã the man, aged around 45, was taking part in an international skydiving competition when upon landing he become stuck on fencing and went into cardiac arrest.
The newspaper says the quick intervention of local emergency services prevented the man from dying at the scene. He was resuscitated, stabilised and taken to Portimão hospital, but on Monday it emerged that he had later that same day succumbed to his injuries.
This was confirmed to Lusa News Agency by a source from the hospital.
It has also since emerged that the man suffered life-threatening injuries after violently slamming into a wall while attempting to land, reportedly, a source from the local fire-brigade said, due to a gust of wind.
The accident happened during the Autumn Boogie 2015, which is taking place at the aerodrome in Penina from 19 September to 19 October, and has seen some 300 people from several countries take part.
Skydive Algarve, who organise the event, have yet to comment on the incident, which is being investigated by authorities.
According to reports Sunday’s tragic accident is the third fatality to happen at the aerodrome in little over 18 months.