Since some Adobe AIR files are ZIP-based files, you should be able to pull it apart using Pea Zip, 7-Zip, or any other Free Zip & Unzip Programs. However, since they're just text files, they technically can be converted to other text-based formats like HTML and TXT, with a program like Notepad .
AIR files that you have received via email or downloaded from websites you're not familiar with. See Adobe's article on packing a desktop native installer to learn how you can make an EXE, DMG, DEB, or RPM installer file from an AIR application using AIR Developer Tool (ADT). Animation files to any other format because doing so would make them stop working with M. Let me know what kinds of problems you're having with opening or using the AIR file and I'll see what I can do to help.
Pea Zip project is based on solid and proven technology of 7-Zip project for handling many mainstream archive formats, and other great Open Source file compression tools (Free ARC, PAQ, UPX) for supporting additional file formats and features, and comes localized in 29 languages.
Alongside data compression and de-compression, the file manager component supports search, bookmarks, use of online cloud disk services, batch rename, view and edit images (resize, optimize, convert), verify hash and checksum, find duplicate files, update existing archives, and try to open / analyze custom file types as archives.
Building Adobe AIR Applications is a PDF file from Adobe that explains all of this in detail.
For more information on using AIR applications on a desktop, Android, Black Berry Tablet OS, and i OS devices see Adobe's Packaging Adobe AIR Applications.