With air bases on both sides of the North Sea, the Home Fleet may not need to retain an extra carrier in northern waters. The scenario therefore moves Glorious toward the Mediterranean alongside Eagle and Illustrious, while the additional hull also gives Eagle time for needed maintenance. The historical strike did not eliminate the Italian fleet, but a much larger air group could change its scale and the Regia Marina's later freedom of action. In the most severe outcome, Giulio Cesare is the only functional Italian capital ship left because its protected berth makes it hard to attack with torpedoes.
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Glorious could turn Taranto into a deeper Italian defeat
The survival of Glorious releases another carrier for the Mediterranean, where a three-carrier strike on Taranto could damage the Regia Marina far more severely.