Officials said the dead were Brazilian tourists and that nearly two dozen other people were injured in Monday's accident in the tourist region of Cappadocia, CNN reported.
Nevsehir province Gov. Abdurrahman Savas said the balloon's envelope ripped after striking the basket of another balloon.
Ahmet Tetikci, Ortahisar town spokesman, told CNN one balloon collided with the other balloon from above and the lower balloon crashed.
The injured were taken to hospitals in the area, officials said.