If anyone is subsidizing EK it is the US tax payer! I recall some article about how the US airlines were harping about EK getting preferential loan terms from Export-Import Bank of the US...

I think if EK was being 'subsidized' to any real extent in terms of shifting losses, they wouldn't be operating 5 flights daily to KHI - which all fly nearly full, and with a full cargo load... i assume same with India and Africa... and asking for more landing slots into Canada. While charging what are the highest fares in most cases.