Well, don't get too excited over the title - there are very little actual ballooning in the movie. No big stunts either, just cheap slapstick gags which some are great, but overall, the film can be quite a disappointment to big Buster Keaton's fans.
Buster Keaton stars as a young man who is so inept at anything, and being so oblivious about his own bumbling ways that it is almost hard to bear. His adventures start at the fun house of the amusement park, where Buster tries to amuse himself at someone's else expense. After failed attempt to hit on a girl on a boat ride, Buster stumbles on a hot air balloon that takes him into the wilderness. Trying to survive in the nature Buster has to overcome many obstacles, to win the heart of a girl.