This paragraph from a BusinessWeek article talks about how Airbus plans to pay over $5B cash for R&D on their new A380 instead of having to borrow the money.

"Financially Airbus has weathered the worst of the squeeze caused by the plane's development. Reassuring investors, the company has kept its promise to finance its $5.1 billion share of research and development costs from cash flow without commercial borrowing. Most analysts figure Airbus will enjoy a nice bounce in operating earnings, starting at the end of next year as R&D spending tapers."