In Reply to: Airfares Up or Down - Clarification posted by jinglebells on Friday, 28. January 2011 at 13:02 Bali Time:
Last year a group of us went in August, and all booked on separate carriers. In Feb Garuda brought out specials (maybe $450-500) which the first couple booked on, then late March I saw Jetstar ($220) specials and decided it was soo cheap my partner and I would go also. Then his family decided to come to and by mid April Air Asia ($235) brought out cheapies. All these prices were return with taxes and bags :)
I can't guarantee a special will come out this year, but this is just what I know from year. Yes August is a peak time, but as other posters said it is peak time for Europeans and Indonesians, so yes hotels are busy but the flights heading from Australia are not as full as usual.
Good luck with your booking and have a great trip :D