Using various Alpha properties

           
<?xml version="1.0" encoding="utf-8"?>
<mx:Application xmlns:mx="http://www.adobe.com/2006/mxml"
    backgroundColor="0xFFFFFF">
    <mx:Panel alpha="0.80" borderColor="#33ff99" borderAlpha="0.37"
        backgroundAlpha="0.29" backgroundColor="#ff0000">
        <mx:Label text="Label" />
        <mx:Text text="Some Text" />
    </mx:Panel>
</mx:Application>

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Using various Alpha properties : Spark component « Components « Flex

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