Harit, in his own thoughts…

Flex SDK has rich set of font managers. Those 3 (Batik, AFE, JRE) manage and transcode to flash player fonts.
However, using following code in CSS caused comile time exception.

“exception during transcoding: Font for alias ‘Arial Bold’ with plain weight and style was not found at…”

@font-face
{
src: url('/assets/fonts/arial-bold.ttf');
fontFamily: "Arial Bold";
}

@font-face
{
src: url('/assets/fonts/arial-bold-italic.ttf');
fontFamily: "Arial Bold Italic";
}

The perfect solution that I could find was that I also need to specify font weight & style in CSS, as per the type of font, I am embedding.

Here is the perfect solution:

@font-face
{
src: url('/assets/fonts/arial-bold.ttf');
fontFamily: "Arial Bold";
font-weight:bold;
}

@font-face
{
src: url('/assets/fonts/arial-bold-italic.ttf');
fontFamily: "Arial Bold Italic";
font-weight:bold;
font-style:italic;
}

Flex SDK is really very smart in this case. It actually detects that the font supplied is of which type effect – bold, italics or both.
More on font managers is here.