This should roughly equate in benefits to silver with Virgin Australia, with the main upsides being priority check-in on international flights, and preferential seating available during check-in.
Be aware though that Raffles who runs the excellent Head for Points in the UK notes though in the comments –
If this is the link I think it is (you didn’t include the source page) then it was meant to expire on May 31st – and of course was targeted at a specific group with a hefty membership fee. No guarantee sign ups after May 31st will stick.
So your mileage may vary.
Sign up here if you’re registered for Flying Club already… let’s see. Nothing to lose.
If you haven’t already signed up for Virgin Atlantic Flying Club, if you plan to take a flight with Virgin Atlantic in the future we can both earn bonus points by letting me refer you to sign up for the first time. Here’s the referral link. This will give you an extra 1,000 bonus when you fly Economy (International, 500 miles for UK domestic on Little Red), 2,000 miles when you fly Premium Economy, and 3,000 miles in Upper Class, than you would otherwise.