Meanwhile, Luxor's chamber of tourism said the company had previous violations, EgyNews reported.
Several balloon companies had terminated contracts with the local meteorological service after the Egyptian revolution, Tharwat Agami, chairman of the chamber of tourism, said.
Sky Cruise and other companies were known to violate safety and security instructions by flying out of East Luxor, instead of the recommended West Luxor, he said.
Comparing it to a previous hot air balloon experience in another country, Michel noted that there was no safety briefing before the Luxor balloons lifted off the ground, but added that he felt safe during the trip.
From what he could tell, the doomed balloon was not overloaded, he said on his Twitter account.
Luxor is among Egypt's top tourist draws. Visitors go to see ancient temples and tombs, and travel sites often recommend the hot air balloon trips.
The last hot air balloon accident in Luxor occurred in 2009, when 16 foreign tourists were injured after a balloon struck a cell phone transmission tower.
Until Tuesday's incident, the deadliest accident in recent memory took place in 1989, when 13 people were killed as two hot air balloons collided in Australia.
Egyptian government spokesman Alaa Hadidi announced that the Cabinet will form a committee from the Ministry of Civil Aviation to investigate Tuesday's accident, EgyNews said.