The term is mostly used in a marine context and originated on sailing ships.
Note the use of the term 'stay' implies load bearing working rigging.
In diving it is also a line to guide the movements of a diver between the endpoints.
These include: A diving jackstay is a form of guideline laid between two points to guide the diver during a search or to and from the workplace or to support and guide equipment for transport between two points.
A downline is a diving jackstay from an anchor point at or above the surface to the underwater workplace used to control descent, ascent and the transfer of tools, materials and other equipment between the surface and the workplace.