Flight prices spring 2012

[indi pearl]

I am off to Manila next spring on a diving holliday booked through an ATOL registered travel agent. The holliday price at booking was fluid subject to flight prices in May 2012. Prices (Malaysian Airways)are now out and the agent requires full payment now to guarantee a fixed ticket price of some £850 return,economy with 30kilo hold baggage.
Now currently there are many airlines (inc Malaysian)offering deals at half the full price however such deals do not as yet encompass May 2012.
There is no ability to alter the specific days of travel (livaboard holiday)so my choice is to either pay up now, 10 months in advance or wait and see if cheaper option for the specific flights comes on offer. Of course the flight cost could go up as the agent is sugesting.
What are your thoughts in respect of flight costs into 2012?

[Puggit]

Airlines sell the cheapest tickets first, so if they don't come on offer while you are waiting you are very likely to pay more for the tickets at a later date.