The curtain has dropped on Hong Kong’s first hot-air balloon festival, which has made the headlines over the past few days after licensing issues led to the cancellation of much-awaited tethered rides.

The event was also forced to close early due to a storm and left hundreds of ticket holders outraged.

The Post unpacks the emotional fiasco of the mega-event.

1. What was the fiasco all about?

The AIA International Hot Air Balloon Festival was scheduled to take place at the Central Harbourfront from September 4 to 7.

One of the festival’s key selling points was the chance to ride a large balloon and ascend up to 20 metres for a clear, panoramic view of Victoria Harbour. It also included live performances by pop singers.

Organised by Grand Events Asia and sponsored by AIA, the four-day festival cost about HK$30 million (US$3.8 million).

But it got off to a rocky start on September 4, when Grand Events announced it had failed to secure approval for balloon rides. The government cited “unsatisfactory” test results as the reason for withholding permission.