You got it on the button. Not that UT had no intention of paying, but they are sure as heck able to do the math. A 30% discount is a lot better than just a 0% loan.
By the same token, if we get a next gen of geared fan engines out of the deal, it was a good deal for Canada as well. Yeah, I hate subsidies of any kind, but in the aviation business, you either subsidize to keep domestic business or watch it go the the highest subsidy bidder.