Interest in thermoplastic composites (TPCs) in the aerospace, marine, and renewable energy industries is growing due to their advantageous qualities compared to thermosetting composites such as higher toughness, shorter processing times, potential for recyclability, and ease of repair. Vacuum bagging-only (VBO) in an oven emerges as a cost-effective and efficient means of consolidation for thermoplastic composites, eliminating the need for autoclaves or large heated presses. This method simplifies the process by placing a preform—typically laid down at high rates using automated fiber placement (AFP)—into a vacuum-sealed bag, creating a uniform pressure on the layers, and raising the temperature to allow the layers to bond. It has been demonstrated that this process significantly boosts inter-laminar properties of resulting coupons. The aim of this study is to investigate VBO as a post consolidation process after AFP in terms of inter-laminar bonding, void content, and void morphology. Test samples are fabricated using carbon fiber-reinforced polyetheretherketone (PEEK) using AFP at high speeds followed by the VBO process. Short beam shear (SBS) on quasi-isotropic coupons is conducted and correlated to void content and inter-laminar bonding measured by cross-sectional microscopy and ultrasonic testing. Results show variations in consolidation degree and SBS across the tested panel. This study paves the way for understanding VBO processing of thermoplastic composites as an economical path for making the next generation of aerostructures.