NO flash pages are not search engine friendly.
If your content is in Flash, most search engines wouldn’t be able to index your content. Hence, you will not be able to rank well in search engines and there will be less traffic heading to your site.
Users have to wait longer than usual to load Flash content compared to regular text and images, and some visitors might just lose their patience and click the Back button. The longer your Flash takes to load, the more you risk losing visitors.
The best way to go is to use Flash only when you absolutely need the interactivity and motion that comes with it. Otherwise, use a mixture of Flash and HTML or use pure text if your site is purely to present simple textual and graphical information.