I thought, based on the original notes that were put out (
http://www.australianfrequentflyer....international-upgrades-with-points-41816.html) - not sure if these were superseded; that you could upgrade from Discount Y to Y+/W for 45k points?
18.3 Virgin Australia International Long Haul
18.3.1 Platinum and Gold Members are entitled to redeem Points for Flight Upgrades to Premium Economy or Business on Virgin Australia International Long Haul flights by redeeming Velocity Points at the rates set out in the table below.
Effective for Requests prior to 13 January 2013
Fare (From: )
Cabin (To: )
Points needed to redeem upgrade
V Saver (L, K or H) Premium Economy (P) 45,000
V Flexi (Y or B) Business (Z) 45,000
Premium Deal (O or R) Business (Z) 45,000
Premium Flexi (W) Business (Z) 25,000
Effective for Requests from 13 January 2013
Fare (From: )
Cabin (To: )
Points needed to redeem upgrade
Flexi (Y, B, L, K or H) Premium Economy (P) 18,000
Flexi (Y, B, L, K or H) Business (Z) 45,000
Premium Saver (O or R) Business (Z) 45,000
Premium (W) Business (Z) 25,000
Terms & Conditions | Velocity Frequent Flyer