Australia’s balloons have been sold off

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Balloon Tower’s balloons are the latest product to go under the hammer.

The Sydney company announced on Thursday it had sold off most of its balloon production capacity, and said it was seeking a buyer for all remaining supply.

It said in a statement the “most recent price cut was due to limited demand for the product”.

“We have already completed a review of our business and will be seeking further buyers as soon as possible,” it said.

Balloon Tower said the company had not yet determined the price of the remaining balloons.

“While we are not yet in a position to confirm the exact market price of any of our balloons, we will continue to monitor the market and make appropriate adjustments as necessary,” the statement read.

Australian Prime Minister Malcolm Turnbull was not immediately available for comment.

But he told reporters in Sydney on Thursday that he was aware of the announcement and would be seeking to talk to the company.

‘We are doing the right thing’The company said it had already sold off its manufacturing capacity.

ABC/Reuters “As we have done with all our other balloons, the Balloon Tower Team has now completed a complete review of all of our production capabilities and will seek a buyer in the coming days,” the company said.

“The remaining capacity is sold off to a new buyer.

The Balloon Tower team will be meeting with all relevant suppliers to finalise their offer.”

The Australian Government’s National Aviation Safety Board (NAASB) said on Thursday balloons were the most dangerous aircraft on the market.

A report published last year found balloons had caused the deaths of more than 2,000 people worldwide.

NAASP said balloons were involved in “multiple deaths in Australia”, including at least seven deaths in Queensland in 2014.

More than 500 balloons were also reported to have crashed at a remote New South Wales beach in the early hours of March 5.

There were no reported injuries, but the Australian Transport Safety Bureau said it would investigate.

Its chief executive Paul Bailes said in the wake of the Queensland crash, the government needed to address the risks posed by balloons.

“We’ve got to do a better job of managing them safely,” he told ABC radio.

Bailes acknowledged balloon flights were “dangerous” but said the risks were “not the same as flying them in the air”.

“The more danger there is in flying a balloon, the more danger you’re putting yourself in if you get into an accident,” he said.ABC/AAP