How would the Argentine Navy have fared in the Falklands without its light carrier, British-supplied escorts, and associated air weapons?
Short answerArgentina would have been still less able to contest the campaign: losing the carrier could also mean losing the Super Étendard and Exocet strike capability.
NotesThe answer treats naval capability as a connected system rather than a list of hulls. The historical Argentine Navy was already hampered by morale and other campaign problems. Removing the light carrier could also remove the path by which Argentina fielded Super Étendards and Exocet anti-ship missiles. Without that strike chain, the Royal Navy would face a substantially less dangerous opponent around the Falklands.