How best to use Commbank points for flights from Melbourne to Brisbane?

Have a bucket load of commbank points

Have to go to Brisbane on the 21st March

There will be 4 of us

2 partners from Germany would like to go up in business

It would be helpful if you provide a clearer picture of what you actually want to do. I have the following questions in my head after reading your question.

Where are you flying from to Brisbane? Germany?

flying from Melbourne

Melbourne to Brisbane with Commonwealth Reward points; you would usually only have the option of transferring to Velocity.

If flying from Melbourne to Brisbane in business, it is quite an easy task. The best way I suggest is to transfer about 100k commbank points for 40k velocity points. I would buy economy tickets with cash on the usually cheap Melbourne to brisbane route. From there, I would pay 10k velocity points per person to upgrade to business class. This would be better value than outright redeeming for an award ticket where the taxes would’ve been half the economy ticket price! You can instantly confirm your upgrade if there is business awards available.

Keep in mind though that there are only 8 seats in a 737 cabin, so it would be wise to book each couple on different but similarly timed flights to maximise your chances of getting an upgrade. It is quite rare to see half the business cabin open for redemption.