In what will be a major blow to the Canowindra community, the 2020 Canowindra International Balloon Challenge has been cancelled due to concerns about the spread of coronavirus.
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The committee of the challenge announced the decision on Monday night via social media.
"With profound disappointment, the committee of the Canowindra International Balloon Challenge have decided to cancel the event for this year," they wrote.
"While we would all love to see the event take to the skies this year, we are also acutely aware of the need to protect the health of our participants, visitors and residents.
"Recent announcements by the State and Federal Governments mean it is no longer possible to hold this event this year."
The event's future was looking in doubt after lower-than-expected spectator numbers in 2019 left organisers, Canowindra Challenge Incorporated (CCI), with debts of about $60,000.
Following an AGM in late January and funding provided by Cabonne Council, it was announced the 2020 event would go ahead.
The committee said those who purchased tickets will receive refunds.
"We would like to take this opportunity to thank our amazing sponsors for their understanding and support," they wrote.
"We would also like to thank the people of our fantastic town who have jumped in behind this event this year.
"All tickets will be automatically refunded in full by our ticketing agent, 123tix.com, to the credit card used to book those tickets.
"Please be patient while we get this underway. All local sponsorships and donations will also be refunded.
"We look forward to bringing you an incredible event in 2021 that showcases everything our amazing town and region has to offer."