What version of Air is currently supported by the PlayBook right now?
Is it up to 3.0 yet or is it still stuck on 2.7?
Blackberry Playbook 2.0 supports Air 3.0: http://www.engadget.com/2011/10/18/rim-announces-blackberry-playbook-2-0-developer-beta/
http://devblog.blackberry.com/2011/10/playbook-os-developer-beta/
However, if you're developing using FlashBuilder, the default SDK for Air in Flex 4.5 is Air 2.6, and you'll need to update your Blackberry OS to now be 2.0 and Air 3.0.
Do that here: http://us.blackberry.com/developers/tablet/adobe.jsp