A woman, also believed to be a passenger in the balloon, is also in a stable condition in the Alfred.

The Warrnambool man, 65, was flown by air ambulance to Melbourne after the hot air balloon’s burner caught fire after it landed early on Sunday.

He suffered 15 per cent burns to his legs, feet and arms. It is not known what injuries the woman suffered.

The man’s wife and a Frankston man also were burned and were rushed to Bendigo hospital by road ambulance.

Both have since been released.

The hot air balloon made a normal landing on private property in Kamarooka before it tipped and the basket caught fire.

The Civil Aviation Safety Authority is investigating the incident.