package
{
	import flash.display.Sprite;
	import flash.events.Event;
	import flash.events.IOErrorEvent;
	import flash.net.URLLoader;
	import flash.net.URLRequest;
	import flash.net.URLLoaderDataFormat;
	import flash.system.Capabilities;
	import flash.text.TextField;
	import flash.text.TextFormat;

	public class Main extends Sprite
	{
		
		private var _xmlPath:String = "data.xml";
		private var _xmlHasLoaded:Boolean = false;
		
		private var _xmlLoader:URLLoader;
		private var _xmlRequest:URLRequest;
		private var _dataXml:XML;
		private var _id:String;
		private var _title:String;

		public function Main():void
		{
			if (stage) init();
			else addEventListener(Event.ADDED_TO_STAGE, init);
		}
		
		private function init():void
		{
			removeEventListener(Event.ADDED_TO_STAGE, init);
			loadDataXml(_xmlPath);
		}
		
		private function loadDataXml($xmlPath:String):void
		{
			trace("loadDataXml("+$xmlPath+")");
			_xmlLoader = new URLLoader();
			_xmlLoader.dataFormat = URLLoaderDataFormat.TEXT;
			_xmlLoader.addEventListener(Event.COMPLETE, onXmlLoader_COMPLETE);
			_xmlLoader.addEventListener(IOErrorEvent.IO_ERROR , onXmlLoader_IO_ERROR);
			_xmlRequest = new URLRequest();

			if (Capabilities.playerType == "External") {
				_xmlRequest.url = $xmlPath;
			} else {
				_xmlRequest.url = $xmlPath + "?rand=" + Math.random();
			}

			try {
				trace("try: urlLoader.load("+_xmlRequest.url+")");
				_xmlLoader.load(_xmlRequest);
			} catch (error:Error) {
				trace("catch: Unable to load XML data.");
			}
		}
		
		private function onXmlLoader_COMPLETE(event:Event):void
		{
			trace("onXmlLoader_COMPLETE()");
			_xmlLoader.removeEventListener(Event.COMPLETE, onXmlLoader_COMPLETE);
			_xmlLoader.removeEventListener(IOErrorEvent.IO_ERROR , onXmlLoader_IO_ERROR);
			_xmlHasLoaded = true;
			
			try {
				_dataXml = new XML(event.target.data);
				trace(_dataXml.toString());
				start();
			} catch (err:TypeError) {
				trace("Could not parse text into XML");
				trace(err.message);
			}
		}
		
		private function onXmlLoader_IO_ERROR(event:IOErrorEvent):void
		{
			trace("onXmlLoader_IO_ERROR("+event+")");
			trace("event.text: "+String(event.text));
		}
		
		private function start():void 
		{
			// Do something here
			_id =_dataXml.title.@id;
			trace("_id: "+_id);
			_title = _dataXml.title;
			trace("_title: "+_title);
			
			var tfmt:TextFormat = new TextFormat();
			tfmt.size = 22;
			tfmt.font = "Arial";
			
			var tf:TextField = new TextField();
			tf.width = 549;
			tf.height = 399;
			tf.wordWrap = true;
			tf.multiline = true;
			tf.defaultTextFormat = tfmt;
			tf.condenseWhite = false;
			tf.border = true;
			tf.htmlText = _title;
			addChild(tf);
		}
		
		
	}
}

////////////////////////////////////////////////////////
// The XML file in this situation would
// look like this and be called 'data.xml'
//
// <?xml version="1.0" encoding="utf-8"?>
// <root>
// 	<title id="001"><![CDATA[Hello World]]></title>
// </root>
//
////////////////////////////////////////////////////////

package
{
	import flash.display.Sprite;
	import flash.events.Event;
	import flash.events.IOErrorEvent;
	import flash.net.URLLoader;
	import flash.net.URLRequest;
	import flash.net.URLLoaderDataFormat;
	import flash.system.Capabilities;
	import flash.text.TextField;
	import flash.text.TextFormat;

	public class Main extends Sprite
	{
		
		private var _xmlPath:String = "data.xml";
		private var _xmlHasLoaded:Boolean = false;
		
		private var _xmlLoader:URLLoader;
		private var _xmlRequest:URLRequest;
		private var _dataXml:XML;
		private var _id:String;
		private var _title:String;

		public function Main():void
		{
			if (stage) init();
			else addEventListener(Event.ADDED_TO_STAGE, init);
		}
		
		private function init():void
		{
			removeEventListener(Event.ADDED_TO_STAGE, init);
			loadDataXml(_xmlPath);
		}
		
		private function loadDataXml($xmlPath:String):void
		{
			trace("loadDataXml("+$xmlPath+")");
			_xmlLoader = new URLLoader();
			_xmlLoader.dataFormat = URLLoaderDataFormat.TEXT;
			_xmlLoader.addEventListener(Event.COMPLETE, onXmlLoader_COMPLETE);
			_xmlLoader.addEventListener(IOErrorEvent.IO_ERROR , onXmlLoader_IO_ERROR);
			_xmlRequest = new URLRequest();

			if (Capabilities.playerType == "External") {
				_xmlRequest.url = $xmlPath;
			} else {
				_xmlRequest.url = $xmlPath + "?rand=" + Math.random();
			}

			try {
				trace("try: urlLoader.load("+_xmlRequest.url+")");
				_xmlLoader.load(_xmlRequest);
			} catch (error:Error) {
				trace("catch: Unable to load XML data.");
			}
		}
		
		private function onXmlLoader_COMPLETE(event:Event):void
		{
			trace("onXmlLoader_COMPLETE()");
			_xmlLoader.removeEventListener(Event.COMPLETE, onXmlLoader_COMPLETE);
			_xmlLoader.removeEventListener(IOErrorEvent.IO_ERROR , onXmlLoader_IO_ERROR);
			_xmlHasLoaded = true;
			
			try {
				_dataXml = new XML(event.target.data);
				trace(_dataXml.toString());
				start();
			} catch (err:TypeError) {
				trace("Could not parse text into XML");
				trace(err.message);
			}
		}
		
		private function onXmlLoader_IO_ERROR(event:IOErrorEvent):void
		{
			trace("onXmlLoader_IO_ERROR("+event+")");
			trace("event.text: "+String(event.text));
		}
		
		private function start():void 
		{
			// Do something here
			_id =_dataXml.title.@id;
			trace("_id: "+_id);
			_title = _dataXml.title;
			trace("_title: "+_title);
			
			var tfmt:TextFormat = new TextFormat();
			tfmt.size = 22;
			tfmt.font = "Arial";
			
			var tf:TextField = new TextField();
			tf.width = 549;
			tf.height = 399;
			tf.wordWrap = true;
			tf.multiline = true;
			tf.defaultTextFormat = tfmt;
			tf.condenseWhite = false;
			tf.border = true;
			tf.htmlText = _title;
			addChild(tf);
		}
		
		
	}
}

Here is a Document Class that loads an external XML file.

AS3 Load External XML File

xml

ActionScript 3