Anyone else having issues installing the update? Every time I tried to download it it would not install and just sit on the "Ready for install" screen. I uninstalled the plane and now when I try to reinstall it I just get "Installation Failed"

And it just worked...I didn't do anything different and have been trying all day lol. I guess this is fixed. 

Most likely you had the aircraft selected on the free flight screen when trying to update. It would be nice if the sim could give a warning notifying this when you try to install, but naturally it can't update an aircraft that's currently loaded!

Yep you're 100% right, been flying it nonstop so it was selected. After I couldn't get it reinstalled I switched it over to something else but then went back try and that's when it worked.