balloonEnglishOxford American Thesaurusballoon noun hot-air balloon, fire balloon, barrage balloon, weather balloon; airship, dirigible, Zeppelin, Montgolfier; envelope, gasbag; informal blimp.verb 1 the slack sail was ballooning in the squall: swell (out), puff out/up, bulge (out), bag, belly (out), fill (out), billow (out); blow up, inflate, distend, expand, dilate. ▷antonyms sag, flap. 2 the company's debt has ballooned in the last five years: increase rapidly, soar, rocket, shoot up, escalate, mount, surge, spiral, grow rapidly, rise rapidly; informal go through the ceiling, go through the roof, skyrocket. ▷antonyms plummet.