Bubbles in the water from pool return

Probably not. It would be in the strainer basket housing or before that. Drain plugs and strainer basket lid O-rings are common sources of leaks. Lube them heavily with pool lube. Valves on the suction lines can leak around the shaft, or if they are union-type valves can need tightened. Also make sure the skimmer weir is floating freely and that there is no surging or strong swirling in the skimmer.
 
The skimmer opening often has a swinging door, called a weir. The weir is designed to get the skimmer to only draw water from the very top surface of the water. If the weir door gets stuck, it can sometimes reduce the water flow enough that the skimmer starts drawing in air along with the water.
 
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