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At the start of WWII Churchill sent out the Royal Navy's Fleet Carriers as part of Uboat Hunter Killer Groups. He had the right idea as events later proved but they were the wrong ships for the job. These Uboat hunts achieved nothing except the loss of HMS Courageous and the near loss of other carriers and had to be abandoned. What if there had been another option to the fleet carriers though? What if the Royal Navy had the commerce protection carriers it had always wanted. They couldn't be mini fleet carriers as that would have clearly broken the Washington and London naval treaty limits. What if though they were part of the Royal Fleet Auxiliary? Large supply ships of around 10-12,000 tons with side mounted funnels and pilot houses and a raised large flat platform built over the over the holds to allow aircraft to be carried on deck in addition to normal stores in the holds. As supply ships in peacetime they're exempt from the treaties but with war coming and the treaties expired could be rapidly converted to at least the standard of the later Merchant Aircraft Carriers and with a little more time into Escort Carriers.

Could the RN justify building say 6 supply ships/aircraft ferries in the 30's?
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