Has anyone tried installing this update?  I found this update on the Apple support page.  Software Update in the OS did not pull this up for some reason.  I just installed it and everything seems to be working fine.  Let me know if it works for everyone else.

MacBook Air (Mid 2012) Software Update 1.0

About MacBook Air (Mid 2012) Software Update 1.0

This update is recommended for MacBook Air (mid 2012) models.

The update includes fixes that improve graphics stability, flash performance, and external display support.

Yes that was one of the first updates that installed after unboxing ....

Yup, don't be fooled @onthegosnow.  That is an early update once the 2012 macbook airs came out.  This update does not solve anything.  Sorry to dash your hopes.

The update did not help at all.  I'm still within my 15 days of being able to return everything.  Should I return the monitor and MacBookAir and wait till September?  I suspect they will have a new Thunderbolt display in September.  What do you think?  I would keep the computer, but I want the Apple Care to cover the monitor.  In order for that to happen you have to buy both together. 

Inspired by @erikcw's comment, today I closed Chrome (I use Safari mostly anyway)... and I've gone 6 hours without the bug. Given how Chrome crashes the HD4000 graphics, I wouldn't be surprised if this was another issue with it.

So... can you all check with Chrome fully closed (quit from the dock)?

Interesting...what are you streaming?   

I use skype calling alot and what i notice is the audio problems always happen after abour 2-5 minutes into the call effecting audio problems of the whole computer. Meanwhile, if I only use music, videos, movies...etc It happens randomly sometimes after couples hours of use. Weird...Problem i'm trying to figure it out is whether it is the software problem or a physical problem like signal interfering or subwoffer problem or something due to that nature

EDIT: I should have actually attributed the "Chrome is the culprit" idea to @TheFriendInMe

Do please try it! Seems to work for me - nearly 7 hours in, now.

@JofArnold - just made the switch.  Restarted, using only safari.  Chrome is totally shut down.  Streaming Spotify from the spotify app.  In about 12 minutes, no isses so far.

Respectfully, I don't think you will find it has anything to do with Chrome.  I did not have Chrome on my computer at all and was getting the static issue regularly.  Interestingly I now do and have had no issue with static for the past few days.  I could therefore think that Chrome actually removes the static issue .  Deductive reasoning can lead one to think all sorts of things.  I have been streaming music regularly over the past few days with no issue...Facetime and Skype calls.

I suggest that you download "Apple Data Capture" or do so in conjunction with a Senior Advisor from Apple Customer Services...then capture/record the data when you get the static sound.  This will be real analysis and help us all get to the root of the problem.  I have been doing this but have been uable to replicate the issue recently.

I do not have Chrome installed. I do not have issues with Spotify or anything I play on the internal screen/speakers. The issue starts when I drive an external television (video image + audio) over the Thunderbolt interface. The sound starts deteriorating and after a certain point it becomes utterly useless.

Do you have Safari (or another browser) running Flash at the same time? I find it strange that I've not had the issue for nearly 8 hours now running Flashless Safari... Wonder if I can crash it by running Chrome...

This is only a Thunderbolt-related issue as far as this forum's able to work out so far.

Nope. Clean system, no active programs except VLC player playing a 1080p movie fullscreen on a Samsung 46" FullHD tv. Connected over TB->HDMI

Yup...made it about 30 minutes...safari...chrome...no matter.  static wins.  lovley how I spend time throughout the day toggling back and forth on the sound preferences between macbook air sound and thunderbolt sound.  Yup...that fixes it.  nice way to spend the day using $3K+ worth of equipment.

Wanted to take the MBA on holiday so that the kids could watch their kidsstuff and we could watch some movies. Since connecting it to a TV definitely is ruled out until Apple fixes this, the MBA might as well be left home .. :-(