Avoiding the historical battlecruiser losses removes some pressure to build replacement battlecruisers and leaves no Courageous-class hulls for conversion. The Royal Navy could instead bring the developing Hermes concept forward into 1916 and order several purpose-built carriers of roughly 20,000 tons. Starting from the keel allows an efficient island design larger than historical Hermes and capable of carrying a substantial air group. Tiger Cubs become natural escorts because they can outrun German heavy units, defeat lighter pursuers, and protect the carriers without consuming a surviving battlecruiser.
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Earlier purpose-built carriers and Tiger Cub escorts
Without historical battlecruiser losses and conversions, Britain might order larger purpose-built carriers in 1916 and pair them with Tiger Cub escorts.