http://en.wikipedia.org/wiki/HMS_Britannia

Sorry, Jody.

There never has been an aircraft carrier in the Royal Navy named Britiannia(sic), and there was no Britannia in service in 1998 except for the decommissioned (1997) Royal Yacht of that name, a museum ship now permanently moored at Edinburgh, Scotland.

This story has been running around for years now, in a variety of variations, with many different navies, ships and captains alternatively being cast in the role of arrogant asshole. It's a great story, unfortunately, not only is it not true, it has been deliberately made up. The incident simply does not meet the criterion of Naval possibility, much less Royal Navy capabilities.

This story is all wrong on multiple levels. The last cruiser in the Royal Navy was HMS Tiger, decommissioned in 1979. In addition, "Chief of Naval Operations" (CNO)is an American Navy title. The corresponding rank in the Royal Navy is "First Sea Lord", or "Chief of Naval Staff". Likewise, the Royal Navy did not have an administrative or tactical unit named the "Atlantic Fleet" in 1998.

You know what they say is the difference between a sea story and a fairy tale?

A fairy tale starts off "Once upon a time...".
A sea story starts off "Now this is no shit, you guys...".