The company has forecast a pre-tax profit for the December half year of between $82 million and $87 million, down from $92.9 million in the previous corresponding period.
It blamed the outlook on slower sales and travellers putting off trips because of uncertainty about the economic situation.
"Given the current uncertainty, it is impossible to predict exactly when this will happen in the leisure travel market or to provide meaningful guidance on our full year outlook," acting chief executive Shannon O'Brien said.
"Within the global leisure market, travellers are clearly interested in the offers that are now available, but are generally delaying finalising their plans," he said.
Political unrest in Thailand and the recent government warnings about travel to Bali had also hit travel plans, he said.
Mr O'Brien said the company in 2008/09 continue to focus on cost cutting by trimming back office overheads and reviewing its spending.
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