I don't want to degrade anything or anyone here, but I would like to point out, that even a "genuine" Ballantines is a blended Whisky. These are usually made in a continuous-distilling ("mass-production") process, which is cheaper than the batch-production process for malt whiskys. The blending takes place when certain malt-whiskys are added in order to guarantee a product with continuous qualities even over a longer period of time.
Further: the price of alcohol around the world is mainly determined by the level of tax in the respective jurisdiction. Therefore, what is cheap in one location can be expensive in another.
Checking the Frankfurt/Germany duty free shop (http://www.dutyfree.de/TV/FRA), a one litre bottle of Ballantine's Gold Seal, 12 years costs €32,50, which makes the price mentioned above indeed seem unrealistically cheap. However, possibly we're talking about a smaller bottle here or a jurisdiction with much lower taxes (menaing that a duty free shop would face more intense competition from the high street).