From observations of a stream of gas bubbles rising through a liquid, a two-phase mathematical model is proposed for calculating the induced turbulent vertical liquid flow. The bubbles provide a large buoyancy force and the associated drag on the liquid moves the liquid upward. The liquid pumped upward consists of the bubble wakes and the liquid brought into the jet region by turbulent entrainment. The expansion of the gas bubbles as they rise through the liquid is taken into account. The continuity and momentum equations are solved numerically for an axisymmetric air jet submerged in water. Water pumping rates are obtained as a function of air flow rate and depth of submergence. Comparisons are made with limited experimental information in the literature.