The Aegean-focused travel group said it was losing £100,000 per month as the market for late holidays to Turkey has turned down by 40% due to a spate of terror attacks.
More than 40 people died in a suicide bomb attack at Ataturk airport in Istanbul in June, while a failed coup in July left more than 160 dead.
Bookings for 2017 are looking more promising but this year will see a significant profit hit, said the AIM-listed group.
In Greece, the timetable for appeals against the presidential decree for its proposed leisure complex in Crete remains 16 September with no reason to expect a change, said Minoan.
The huge project will include a number of small to medium sized hotels of 'extremely high standards'.
Shares fell 13% to 7.5p.