It's too late to change the OP, but I think it should have happened like this...
IOTL Hermes paid off as a strike carrier in 1970 and her conversion to a commando carrier actually took place form 1st March 1971 to 17th August 1973 at a cost of £25 million. OTL she replaced Albion which was sold and scrapped.
However, ITTL...
It should have been Eagle that paid off in 1970 and her Phantomisation refit would take palace from 1st March 1971 to 17th August 1973.
IOTL major refits of large British warships had a habit of going way over time and cost from the 1950s rebuild of Victorious to the conversion of Tiger to a command cruiser. Therefore I am very sceptical that Eagle's Phantomisation refit would have been quick and cost the oft quoted estimate of £5 million. This is why if I was writing TTL I would have said that her Phantomisation refit would have actually cost £25 million, i.e. the same as the commando carrier conversion of Hermes.
However, if I was writing this TL some of that increase would be because it was actually a Service Life Extension Programme (SLEP) refit so that the ship would be able to serve for another 10 years. This would include replacing the ship's DC electrical system with an AC system, refurbishing her machinery and modernising some of her electronics. The latter would include replacing the Type 984 radar with a Type 988 (which ITTL would also be fitted to Bristol) and replacing her Action Data Automation (ADA) system with the Action Data Automation Weapons System (ADAWS) Mk 3 system which IOTL was to have been fitted to the CVA.01 class.
Having Eagle out of service from 1970 to 1973 has the bonus that it avoids the grounding which increased the estimated cost of the refit from £5 million to the £40 million quoted in Post 23.
Hermes would remain in commission as a strike carrier from 1970 until relieved by the Phantomised Eagle in 1973. She would then be paid off and then either scrapped or sold.
Albion isn't paid off in 1973 and scrapped after the proposed conversion to a support ship for the North Sea oil rigs falls through. Instead she takes the place of Hermes IOTL. So in 1976 she begins a conversion to an ASW carrier which is completed in January 1977. Then delays in the Invincible class result in her being fitted with a ski jump and the modernisation of her flagship facilities in a refit which began at Portsmouth in early 1980. The TTL edition of Jane's Fighting Ships 1981-82 would say that Albion is likely to be run onto 1984-85 depending upon how long it would take to finish the Invincible class. (The OTL JFS 1981-82 said that Illustrious was to start her sea trials in late 1981 and she would be commissioned early in 1982, while Ark Royal was expected to be completed in 1985). If Albion survives the TTL Falklands War she would have been paid off in 1984 like Hermes was IOTL and sail to India in 1987.
IOTL Hermes paid off as a strike carrier in 1970 and her conversion to a commando carrier actually took place form 1st March 1971 to 17th August 1973 at a cost of £25 million. OTL she replaced Albion which was sold and scrapped.
However, ITTL...
It should have been Eagle that paid off in 1970 and her Phantomisation refit would take palace from 1st March 1971 to 17th August 1973.
IOTL major refits of large British warships had a habit of going way over time and cost from the 1950s rebuild of Victorious to the conversion of Tiger to a command cruiser. Therefore I am very sceptical that Eagle's Phantomisation refit would have been quick and cost the oft quoted estimate of £5 million. This is why if I was writing TTL I would have said that her Phantomisation refit would have actually cost £25 million, i.e. the same as the commando carrier conversion of Hermes.
However, if I was writing this TL some of that increase would be because it was actually a Service Life Extension Programme (SLEP) refit so that the ship would be able to serve for another 10 years. This would include replacing the ship's DC electrical system with an AC system, refurbishing her machinery and modernising some of her electronics. The latter would include replacing the Type 984 radar with a Type 988 (which ITTL would also be fitted to Bristol) and replacing her Action Data Automation (ADA) system with the Action Data Automation Weapons System (ADAWS) Mk 3 system which IOTL was to have been fitted to the CVA.01 class.
Having Eagle out of service from 1970 to 1973 has the bonus that it avoids the grounding which increased the estimated cost of the refit from £5 million to the £40 million quoted in Post 23.
Hermes would remain in commission as a strike carrier from 1970 until relieved by the Phantomised Eagle in 1973. She would then be paid off and then either scrapped or sold.
Albion isn't paid off in 1973 and scrapped after the proposed conversion to a support ship for the North Sea oil rigs falls through. Instead she takes the place of Hermes IOTL. So in 1976 she begins a conversion to an ASW carrier which is completed in January 1977. Then delays in the Invincible class result in her being fitted with a ski jump and the modernisation of her flagship facilities in a refit which began at Portsmouth in early 1980. The TTL edition of Jane's Fighting Ships 1981-82 would say that Albion is likely to be run onto 1984-85 depending upon how long it would take to finish the Invincible class. (The OTL JFS 1981-82 said that Illustrious was to start her sea trials in late 1981 and she would be commissioned early in 1982, while Ark Royal was expected to be completed in 1985). If Albion survives the TTL Falklands War she would have been paid off in 1984 like Hermes was IOTL and sail to India in 1987.
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