Viable, yes, 100% suitable maybe not.
Whilst I don't disagree that there have been balls-ups a plenty at the MOD, especially when it comes to the carriers and aircraft I have to disagree that we have no viable air force or naval air presence.
Have we not just finished a 7 month air campaign in Libya as well as ongoing operations in Afghanistan and deployments in Falklands, Cyprus etc. Yes the Libya and Afghanistan operations could have had better and more suitable equipment but it was still viable by the very fact it happened/is still happening.
Plus the MOD provides the most crucial of air roles with regard to the first role of any government, ie the protection of its citizens, through with the defence of UK air space using Typhoons based at Leuchars and Coningsby.