With mobile AIR application development on the forefront, the approach to application optimization needs to be refined to accomodate the platform. To get the optimal performance with any mobile device, it is important to maximize the hardware capabilities as well as implementing software development best practices.
Check out this article by Jun Chen, where he describes priceless development practices that help improve performance of mobile AIR apps. Topics in this article include applying manual garbage collection, improving performance by updating the AIR SDK, vector versus bitmap graphics, etc.
via the Adobe Flash Developer Center