Historically, Hermes was caught without aircraft during the Japanese Indian Ocean raid and sunk off Ceylon. A continuing construction programme might replace her before 1942, move older hulls into escort work, and send newer ships to the most exposed stations. The same force structure makes some carrier presence with Force Z much more plausible. Even a modest fighter contingent could make the historical Japanese torpedo attack extremely costly. Losing experienced anti-ship bomber crews at the opening of the Pacific War would have consequences beyond the immediate fate of Force Z, because those crews were a scarce operational resource.
Notable Point · 1:25:06-1:27:39
How carrier continuity could change Hermes and Force Z
A continuing light-carrier production line could replace Hermes before Operation C and give Force Z enough fighter cover to impose severe losses on Japanese torpedo bombers.