The equation for an airplane in orbit with the air providing lift would be:
$$\frac{GM_Em}{(R+h)^2} - \frac{\rho(h) v^2 S C_L}{2} = \frac{mv^2}{R+h} $$
$GM_E$ is Earth's standard gravitational parameter,
$R$ is Earth's radius and $h$ the altitude of the airplane above the surface,
$\rho(h)$ is the air density at altitude $h$ and $S$ is the airplane's wing area,
$C_L$ is the airplane's lift coëfficiënt.
From Wikipedia, about the definition of the Kármán line:
For an airplane flying higher and higher, the increasingly thin air provides less and less lift, requiring increasingly higher speed to create enough lift to hold the airplane up. It eventually reaches an altitude where it must fly so fast to generate lift that it reaches orbital velocity.
But does the airplane ever reach orbital velocity ?
Rearranging the equation above:
$$\rho(h) v^2 S C_L = \frac{2m}{R+h}(\frac{GM_E}{R+h} - v^2) $$ Orbital velocity $v_0$ can be gotten from the vis-viva equation:
$$v_0^2= \frac{GM_E}{R+h} $$ Substituting the $v_0^2$ will give: $$ \rho(h) v^2 S C_L = \frac{2m}{R+h}(v_0^2 - v^2) $$ $$ R+h = \frac{2m}{\rho(h) S C_L}(\frac{v_0^2}{v^2} - 1) $$
When all the variables and constants are positive, $v$ must be less than $v_0$.