Adobe AIR is available for Android.

In my opinion - great news! In the Android Market you can already find the official app . To get the pre-release version, you must register in the Android Developer Prerelease program on the site . Registration is not to say that in “two clicks”, 5 minutes will be gone. Inside a whole list of games and applications + SDK is already available.

Specifications are: support for AS3 (1 and 2 are not supported), Flash version 10.1 and AIR 2.5, Flash Professional CS5 is recommended for development, while the application is available only for Android 2.2 (Froyo) .
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Downloaded, from their site - AIR 2.5 Runtime - Device [For FroYo onwards]