Narrative:

The flight consisted of 2 legs for the sale of the aircraft. I have been working for the seller and flew left seat with the buyers recently typed pilot in the right seat. After the sale of the plane; the new owners pilot flew left seat (pilot flying) and I was right seat. After a normal takeoff we were issued a heading and climb altitude. I looked down to set the FMS and stow my ipad for a few seconds. When I looked up I noticed the plane descending with a low airspeed and auto throttles retarded. I took control of the plane; added power; initiated a climb and flew to the assigned heading. The controller queried our altitude and asked if we were ok. I responded we were ok and climbing to the assigned altitude and heading. I transferred the controls back to the left seat pilot and we flew to our destination without further incident.

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Original NASA ASRS Text

Title: Gulfstream Captain reported noticing aircraft descending with a low airspeed and autothrottles retarded.

Narrative: The flight consisted of 2 legs for the sale of the aircraft. I have been working for the seller and flew left seat with the buyers recently typed pilot in the right seat. After the sale of the plane; the new owners pilot flew left seat (pilot flying) and I was right seat. After a normal takeoff we were issued a heading and climb altitude. I looked down to set the FMS and stow my iPad for a few seconds. When I looked up I noticed the plane descending with a low airspeed and auto throttles retarded. I took control of the plane; added power; initiated a climb and flew to the assigned heading. The controller queried our altitude and asked if we were ok. I responded we were ok and climbing to the assigned altitude and heading. I transferred the controls back to the left seat pilot and we flew to our destination without further incident.

Data retrieved from NASA's ASRS site and automatically converted to unabbreviated mixed upper/lowercase text. This report is for informational purposes with no guarantee of accuracy. See NASA's ASRS site for official report.