And in the close confines of the "Med", the carriers would be so close to enemy air cover {from Sicily or Crete} that they could overwhelm a carrier's CAP {before 1942 most UK carriers had only 1 squadron of fighters}
Freebird
British Carriers demonstrated their potency and survivability in the central basin time and again. IF the brits had opted for more Ark Royals, instead of Illustrous types, AND they could put the planes on them (something that they manifestly could NOT do, because the RAF controlled the procurement machine until 1938, then the Brits would have been able to nearly double their airpower, for no real additional cost. The Ark Royal had a carrying capacity of 63 A/C to the Illustroius' 36 (in 1940. If the Brits could actually put 63 aircraft on the same number of hulls, they would have been a real challenge to the Axis control of the central basin.
Plus many of the significant engagements took place at night, the superiority of the RN BB's fighting at night {with radar} helped allow them to keep control of the Med, even when outnumbered
From 1940, until the middle of 1942 (very roughly), the British CAGs were trained as night capable. Night Landings, ASV radar, the use of flares were all standard stuff for British CAGs. Moreover the equipment (particualrly the Swordfish had a remarkable ability to make rough weather T/O Landings