Hi Ted,
From your picture, I don't think the powerhead is airlocked.
Airlock is when air gets trapped in your filter / powerhead impeller hence affecting the spinning, usually accompanied by loud noises
I think you're probably referring to the excessive collection of air bubbles in your bottle, this is perfectly fine, but if it an eye sore for you, you can try drilling a small hole as in the edit pic below.
I believe, as the co2 accumulates, the air column will increase and will be able to escape from the drilled hole.
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