The Brazilian National Civil Aviation Agency (Anac) is actively involved in the investigation, ensuring compliance with safety regulations. Eyewitness accounts reveal that a fire erupted in the balloon's basket, triggering a rapid descent. The pilot reportedly advised passengers to jump when they were close to the ground, but some were unable to exit the balloon before it ascended briefly due to weight distribution issues, resulting in a fatal crash landing.

The victims include two couples, a mother and daughter, a well-known ophthalmologist, and a figure skater. As the survivors are receiving treatment in local hospitals, the tour company, Sobrevoar Serviços Turísticos, has suspended operations indefinitely, emphasizing its adherence to safety protocols prior to this incident.

In a heartfelt message, Governor Mello expressed condolences and promised a thorough investigation, while President Luiz Inácio Lula da Silva offered the federal government's support to the victims' families and recognized the state and municipal efforts to assist survivors. Praia Grande remains a well-known destination for hot air ballooning, and this tragedy has deeply impacted the community.