A mum and her young son have died after their theme park balloon ride floated away then came crashing back to earth.

Horrifying footage captures the pair’s final moments as they wave happily from the ride as it takes off, before the balloon breaks from its moorings and soars into the atmosphere.

Reports say the balloon plummeted to the ground, killing both the 31-year-old woman and her boy, said to be three years old, in the tragedy at a theme park in East China’s Shandong Province last week.

The mother and son were harnessed in on the ride Majiagi, near the city of Yantai on October 1, at the start of China’s National Day holiday.

The mum waved enthusiastically as the balloon ride set off
The final images of a mother and her young son shows them floating away

Footage of the incident showed they were secured beneath the ride’s helium balloon as it began to rise.

According to reports, the experience offered free as part of the entrance ticket to the park, allows riders to reach heights of up to 50-metres.

The victim, named locally only as ‘Ms Suo’, and her son can be seen sitting side by side on the amusement park’s helium balloon ride in footage captured of the incident.

She can be seen to wave as it slowly begins to rise.

The balloon then suddenly slips its moorings, and continues to rise at a sickening pace, taking the riders with it.

The pair are last seen alive as a tiny white speck in the sky as the balloon floats into the atmosphere.

Authorities said the helium balloon later ruptured in the sky, with Ms Suo and her tot falling to their deaths.

It is unclear how far the pair fell.

Yantai police announced the arrest of five organisers last week.

The balloon carrying the pair floats off into the sky 

Tourism activity at the national park has since reportedly been suspended pending in anticipation of a formal inquiry into the incident.

A Majiagou scenic area staff member revealed to local media that the police had found the balloon rides to be unauthorised and illegal.

The park reportedly leases part of its grounds to the company for the activity, but it is unclear whether it also faces punishment for negligence as a result of the police’s findings.