Hello Howard,
First we need a little more information, like what make, model, and type of air rifle are you considering doing this to ?
I will say that a shorter barrel will be stiffer, and produce less harmonics in the barrel. Harmonics are vibrations that whip the barrel, sometimes causing inaccuracy. Some free float the barrel so not to interfere with the harmonics, while others, glass bed or custom stock the barrel to help dampen the harmonics of the barrel. This applies even pressure along thelength of the barrel that is in the stock.
If the power plant of the air rifle is powerful,shortening the barrelmay reduce the fps of the air rifle. PCP and CO2 air rifles may loose velocity because there could be enough of an air charge to propel the pellet all the way through the barrel. While weaker air rifles may only propel the pellet through a portion of the barrel, causing the pellet to begin to slow down, after the air charge is reduced below the level able to accelerate the pellet.
If were to do this, I would remove 1/2" - 1" segments of the barrel at a time, and then check the velocity to see what, if any effect the cut had made.
I hope this helps.
Bill