No. See past discussions on this topic.
Can I not just use encryption software? I found a software solution that claims to encrypt and secure AIR packages.
If someone has a solution, you are welcome to try it out. I would expect
that once the AIR package is installed and on the machine, the SWF is laying
there for someone to hunt for and decompile, but maybe they have a solution
for that too. And I doubt there is a similar solution for Flash in the
If you read the past discussions, usually protecting the content of a SWF
isn't going to make or break you. Usually it is the server data that is key
to the app and limiting access to the server makes stealing your SWF