I do not know if AC has ever received any subsidies from another country to serve that countries customer base. It is not normal or accepted business practice to subsidize foreign air carriers in any country.
It is strange that an air carrier is able to get financing in a country that cannot find the pension money lost by that countries banks.
It would be truly cosmic if the lost European police pension funds that were "Lost" in the Icelandic banks, were funding the expansion of their airline.