Have exactly same problem.
High Sierra, Mac Mini.
Installer window displays success, but there is no uninstaller in the Utilities Apps folder (but during the installation it appears there for a second or two, then vanishes).
In the System.log:
Apr 3 23:05:28 Robert-Marons-MacMini com.apple.xpc.launchd[1] (com.apple.xpc.launchd.oneshot.0x1000001c.Adobe AIR Installer[59165]): Service exited with abnormal code: 5
On the other hand, the command line installer displays:
Robert-Marons-MacMini:Adobe AIR robmar$ ls
Adobe AIR Installer.app
Robert-Marons-MacMini:Adobe AIR robmar$ ./Adobe\ AIR\ Installer.app/Contents/MacOS/Adobe\ AIR\ Installer -silent -eulaAccepted
Adobe AIR is currently not installed
Installing version 29.0.0.112
failed (consult log)
Robert-Marons-MacMini:Adobe AIR robmar$ sudo ./Adobe\ AIR\ Installer.app/Contents/MacOS/Adobe\ AIR\ Installer -silent -eulaAccepted
Password:
Adobe AIR is currently not installed
Installing version 29.0.0.112
failed (consult log)
Robert-Marons-MacMini:Adobe AIR robmar$
Tried booting Rescue partition, reinstalling Mac OS, no changes to the above behaviour.
Tried installing Mac OS X on the same machine within a Virtual Box machine, no problem with Adobe AIR installer there.
Regards,
Robert