DMA said:
Well I don't know where you're getting your OOB list from, but this is what I know is in the OTL RN Med fleet (or what can be added to it quickly) with little concern in regards to Sealion from July-Dec 1940
CVs:
HMS Ark Royal
HMS Argus
HMS Eagle
HMS Furious
HMS Illustrious
That's 5 OTL CVs operating in the Med during the BoB when Sealion was a threat.
Now for the BB/BC
HMS Hood
HMS Malaya
HMS Ramilles
HMS Renown
HMS Resolution
HMS Royal Sovereign
HMS Valiant
HMS Warspite
That's 8 OTL BB/BCs operating in the Med again during the BoB when Sealion was a threat.
Now even if the RN did lose a few ships, which they did, they have more than enough in just the Med Fleet to cover their loses.
So there's no way you can convince me, considering the OTL history of the Italian navy in 1940/41, that they are going to defeat the RN Med Fleet & control the sealanes around Malta long enough to get an invasion force to the island.
Maybe late 1941/early 1942 is possible, but in reality it's too late by then as the US has entered the war.
5 carriers sounds good but when you consider what aircraft they were carrying it doesn't look so good and i'm not sure if Illustrious would have had any aircraft if rushed there early.
Here is the FAA's front-line squadron strengths (excluding ship based recon flights of the float-plane squadrons) on 10 May 1940.
HMS Ark Royal: at sea off Narvik
Vice-Admiral: VA Lionel Victor Wells, CB, DSO, RN
Flag Captain: Capt. Cedric Swinton Holland, RN
Captain: Lt.Cdr.(ret.) George William Emil Castens, RN
800 Squadron: 9 x Skua II (12 crews)
801 Squadron: 9 x Skua II (8 crews)
803 Squadron: 9 x Skua II (9 crews)
810 Squadron: 11 x Swordfish I (11 crews)
820 Squadron: 9 x Swordfish I (9 crews)
HMS Furious:
Captain: Capt. Thomas Hope Troubridge, RN
804 Squadron (-): 6 x Sea Gladiator (6 pilots)
818 Squadron: 9 x Swordfish I (10 crews)
263 Squadron, RAF: 18 x Gladiator II (18 pilots)
HMS Glorious:
Captain: Capt. Guy D’Oyly-Hughes, DSO+bar, DSC, RN
802 Squadron (-): 6 x Sea Gladiator (10 pilots)
823 Squadron (-): 6 x Swordfish I (6 crews)
701 Squadron: 6 x Walrus I (6 crews)
46 Squadron, RAF: 18 x Hurricane I (18 pilots)
HMS Sparrowhawk (RNAS Hatston):
804 Squadron (Det.): 3 x Sea Gladiator (3 pilots)
806 Squadron: 9 x Skua II (14 crews)
823 Squadron (Det.) 6 x Swordfish I (6 crews)
HMS Merlin (RNAS Donibristle):
816 Squadron: 9 x Swordfish I (9 crews)
RNAS Evanton (Donibristle satellite)
821 Squadron: 9 x Swordfish I (9 crews)
HMS Kestrel (RNAS Worthy Down):
825 Squadron: 12 x Swordfish I (12 crews)
HMS Daedalus (RNAS Ford):
812 Squadron: 12 x Swordfish I (12 crews)
826 Squadron: 12 x Albacore I (12 crews)
RAF Station West Freugh`
819 Squadron: 12 x Swordfish (12 crews)
RAF Station Bircham Newton:
815 Squadron: 9 x Swordfish I (9 crews)
HMS Eagle: just completed repairs @ Singapore with orders to join the Mediterranean Fleet
Captain: Capt. Arthur Robin Moore Bridge, RN
813 Squadron: 9 x Swordfish I (9 crews)
824 Squadron: 9 x Swordfish I (9 crews)
HMS Hermes: at Freetown
Captain: Capt. Richard Francis John Onslow, MVO, DSC, RN
814 Squadron: 9 x Swordfish I (9 crews)
[ashore at Ouakam, Dakar] x Swordfish I (3 crews)
710 Squadron (Det.) 4 x Walrus I (4 crews)
HMS Illustrious: Completing @ Liverpool
Captain: Capt. Denis William Boyd, DSC, RN
HMS Argus: Refitting @ Malta for DLT duty in the Mediterranean
Captain: Capt. Henry Cecil Bovell, RN
767 DLT Flight: Lt.Cdr Anthony Francis Hall 6 Swordfish I
As you see, not much in the way of fighters and the situation was not that much better a year later. There are a few Swordfish but their performance off Norway does not suggest they could do very well in the Med, they just simply did not have the training.
The Italian Air force seriously worried the Med Fleet even with the addition of Illustrious and her Fulmar 'fighters' and until around August 1940 all Malta had for air defence were 3 Gladiators - the 4 Hurricanes she received in August were stripped form Alexandria.