Virgin Group - the global behemoth company that includes more than 60 businesses - and Virgin Atlantic will be working together to build a spanking new Virgin-wide loyalty program. While specifics of the new umbrella loyalty program are scarce at the moment, what is known is members can look forward to differentiated and unique reward opportunities that reward their customer loyalty across the various Virgin companies.

To do this, a new company under the wings of Andrew Swaffield, the previous CEO of IAG's Avios, will be set up at some point in 2019 to own as well as manage the new, exciting umbrella loyalty program. The new company, as announced, is the Virgin Group Loyalty Company. The Virgin Group Loyalty Company will function to bring reward across the entire Virgin family together into one single company in addition to creating a more valuable offer for Virgin's loyal customers. Virgin Group and Delta Air Lines will jointly own the Virgin Group Loyalty Company; Delta owns a 49% stake in Virgin Atlantic at this time.

For Virgin Atlantic's frequent flyers, take heart that Flying Club will remain as the frequent flyer program for the airline. Miles will continue to be used as the program's currency. Also, members of Flying Club will continue to collect tier points as well as collect and redeem miles across Virgin Atlantic, Delta and a host of other airline and partners as they do today.

Flying Club members can keep their eyes peeled for an expanded number of ways they can collect and redeem valuable miles in the near future. Perhaps, rewards earned in a Virgin Megastore or on a stay at a Virgin hotel, may be redeemable for trans-Atlantic flights in the near future? The possibilities of creating something exciting to reward loyal Virgin customers are endless, really. It remains to be seen what tricks the Virgin Group Loyalty Company will pull out of their sleeves.

More information regarding the new umbrella loyalty program will be released to Virgin's customers as the program is being developed. What we do know now is that Virgin Red, an existing app-based loyalty start-up within the Virgin Group, will be integrated into the new Virgin group-wide loyalty program in time to come.

Denise Bay is a staff writer at GET.com. Email: denise.bay@get.com.