If you were among those looking forward to seeing hot air balloons float above the New Smyrna Beach Municipal Airport this fall, organizers have bad news.

The New Smyrna Beach & Balloon and Sky Fest Airshow just couldn't get off the ground this year.

After a nearly three-year hiatus, fundraisers say they couldn't gather enough financial support in time to bring the air show back.

"We had hoped to gain support from the community by way of sponsorships and donations to insure we would reach our objectives," said Joanne Bogus, executive director for New Smyrna Airfair Inc., the nonprofit organizing the event. "Without this backing we are unable to move ahead with the event."

[READ MORE: Balloon & Sky Fest returning to NSB]

The annual three-day event began in 2009 and featured a traditional hot air balloon glow as well as daring aerobatics. For years, community volunteers kept the event alive through a nonprofit board, but the festival was canceled indefinitely in 2015 when organizers couldn’t draw enough donors and sponsors to keep it going. The city tried to revitalize the air show with an outside company for 2016, but organizers said it just didn’t work as a for-profit event.

When reached by phone Monday, Bogus said she was uncertain how many tickets had already been sold, but anyone who donated funding, reserved a spot or bought a ticket in advance will get their money back.

"We are in the process of refunding all ticket sales, vendor sales, as well as sponsorships," Bogus said.

Organizers are disappointed.

"We are very, very sad," said Barbara Snell, vice president of the nonprofit. "But we can't move forward."

The event was originally scheduled for November, during Veteran's Day weekend. Organizers say the goal of the festival was to raise funds for several veterans charities.

When asked whether the organizers will try again next year, Bogus said she wasn't certain.

"That is up to the board," Bogus said. "And I don't think they've made that decision yet."