Britain accepted the risks of the Malta convoy battles because forces based on the island could strike shipping moving from Italy toward Libya. Aircraft, submarines, and Force K threatened those routes. Losing Malta would have made Axis supply movements far easier and multiplied Allied difficulties in North Africa. In this interpretation, sustaining Malta in 1941 laid the foundation for later victory by constraining Axis logistics.
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Malta as a threat to Axis supply lines
Aircraft, submarines, and surface forces based at Malta endangered Axis routes from Italy to North Africa and shaped the wider campaign.