Michael Rennie, of Perth, spoke to investigators before he flew back to Heathrow Airport last night.
The 49-year-old lost his wife Yvonne in the tragedy, which also claimed the lives of another 18 tourists. He and the pilot were the only survivors.
According to Egyptian news site Ahram Online, Mr Rennie told investigators he only survived because he jumped from the basket immediately after the pilot.
He said the blaze broke out as the pilot attempted to land following the discovery of a leaky gas canister, claiming the balloon went up in flames three seconds after the leak was discovered.
It is understood he told investigators he did not think he would survive the fire.
Mr Rennie, who had to watch as his wife was killed in the blaze, has been treated in hospital for burns.
However, he has now been released and was due to return to Scotland today.
Neurologist Mahmoud el-Shennawy, who was treating him at a Cairo hospital, said Mr Rennie was discharged from hospital yesterday and went straight to the airport.
A spokesman for travel agent Thomas Cook, which was the agent behind the couple's trip to Egypt, said it had assisted with his return.
Following the explosion, Mr Rennie described his hospital worker wife as his "world".
In a statement he said: "I would like to thank the staff at both hospitals in Cairo and Luxor, the British Embassy –especially Hala Hamam and John Hamilton – and Kathryn Brace from Thomas Cook for helping me through these last few days.
"Yvonne was my rock, my friend, my shoulder to cry on. She was my world.
"My heartfelt condolences go out to the other families around the world who have lost relatives in this terrible disaster."
It is understood the balloon was coming into land at al-Dhabaa village, to the west of Luxor, after a dawn sight-seeing trip to the Valley of the Kings.
When it was only 10ft from the ground, a fire broke out on board causing a blast which filled the canopy with hot air and sent the vessel soaring skywards again.
Joe Bampton, 40, from London, and his Hungarian-born partner Suzanna Gyetvai, 34, also died in the accident.
Mr Rennie and the Egyptian pilot are believed to have jumped out before the basket rose further into the sky.
The incident has prompted questions over the safety of hot-air balloon rides in Egypt, which have all been grounded pending the outcome of the investigation.
In April 2009, 16 people were hurt when a balloon crashed during a tour of Luxor. The balloon was believed to have hit a mobile phone transmission tower near the banks of the Nile.
After that crash, early-morning hot-air balloon flights over the Valley of the Kings were suspended for six months while industry safety measures were tightened up.
There were at least four other non-fatal crashes that year involving tourists and there were also incidents in 2007 and 2008.
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