The assignment discusses the financial performance of Qantas, an Australian airline company, and advises investors to abstain from investing in its shares due to potential significant loss. The company has managed to reduce operating expenses in 2016, resulting in positive operating income. However, increased operating expenses in 2013 led to negative operating income. Cash reserves are sufficient, but inventory levels have fallen in 2016 compared to 2013. The debt burden remains the same, and equity funds are not significant. Overall, the analysis suggests that Qantas is not a good investment opportunity.