Alex Peroni broke a bone in his back following an extraordinary 150mph airborne crash in Saturday's Formula Three race at Monza.
A week on from Anthoine Hubert's death in a Formula Two accident at the Belgian Grand Prix, 19-year-old Peroni somersaulted through the air three times at the high-speed Parabolica corner.
The Australian's car flew after he struck a sausage kerb at the final bend. Peroni landed upside down on the crash fencing as marshals ran for cover.
Remarkably, Peroni walked away unaided from the crash scene, but was taken to a hospital in Monza after displaying signs of concussion.
"That was a big one," said Peroni from his hospital bed. "I am currently recovering with a broken vertebra.
"Not sure of the recovery time but hope to be back in the car as soon as possible."
Peroni has been ruled out of Sunday's F3 race at Monza.
The FIA removed the kerb which had been put in place to deter drivers from exceeding track limits.
