It's already been confirmed that HMS Prince of Wales will not enter service - built but not kitted out - and kept on as a reserve vessel, or even flogged off. HMS Queen Elizabeth is expected to go into service in 2020, but its current £6bn cost is also expected to spiral.
What's concerning is that the NAO were not given full access to Cabinet Office papers about the funding program for the carriers. "This lack of transparency over such a crucial and costly decision is not acceptable," says Margaret Hodge, chair of the public accounts committee.
Cock-up Central"They [the NAO] were not given access to particular papers which they needed to understand." Allegedly this included MoD affordability details, military capability and industrial implications.
Meanwhile we have the best part of a decade without any aircraft carrier capability at all. The NAO is also asking awkward questions about highly expensive changes to the two carriers - including making them compatible with US Navy strike fighters - are worth the price.
There was also the small matter of nine brand new Nimrod surveillance aircraft - cost to taxpayers £3.6 billion - which were dismantled and scrapped without ever flying.