Initially, the horizontal velocity component of the bundle is 350km/h.
Work Step by Step
The bundle was traveling at a horizontal velocity of 350km/h. This velocity will not change throughout the duration of the flight. The only thing that will change is the velocity of the bundle's vertical component of motion. This is because the only force acting upon the bundle while it's in the air is gravity, which only brings it straight down, and not to either side.