Narrative:

I was first officer and PF. We were in cruise at FL320 in the vicinity of ZZZ. FMS was in VNAV lvl; speed was 0.765-.77 mach. The captain and I were both heads down working on inserting abeam waypoints into the FMS for flight plan fuel burn tracking. At approximately XA25Z both of us simultaneously noticed the speed low annunciation in the FMA and 215 KIAS. The cabin attendant disconnected the autothrottles selected climb in the tri and moved the throttles to approximately the climb position and called for a descent. I took the throttles; trimmed the power since it seemed to fluctuate quite a bit for a moment; disconnected the autoplt and started a smooth controled descent from FL320. The captain called ATC and declared an emergency and received clearance to descend as low as we wanted with assurance of no conflicts. I don't recall the vertical speed getting much beyond 1000 FPM. There were maybe 2 aerodynamic buzzes shortly after initiating the descent. No attempt was made to level off until FL260 and about 250 KIAS.

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Original NASA ASRS Text

Title: WHILE DISTRACTED WITH FMS PROGRAMMING; MD80 FLT CREW DISCOVERS IAS HAS DROPPED TO 215 KIAS AT FL320. DECLARE EMERGENCY AND MUST DESCEND IN ORDER TO REGAIN LOST AIRSPEED AND AVOID STALLING.

Narrative: I WAS FO AND PF. WE WERE IN CRUISE AT FL320 IN THE VICINITY OF ZZZ. FMS WAS IN VNAV LVL; SPD WAS 0.765-.77 MACH. THE CAPT AND I WERE BOTH HEADS DOWN WORKING ON INSERTING ABEAM WAYPOINTS INTO THE FMS FOR FLT PLAN FUEL BURN TRACKING. AT APPROX XA25Z BOTH OF US SIMULTANEOUSLY NOTICED THE SPD LOW ANNUNCIATION IN THE FMA AND 215 KIAS. THE CABIN ATTENDANT DISCONNECTED THE AUTOTHROTTLES SELECTED CLB IN THE TRI AND MOVED THE THROTTLES TO APPROX THE CLB POS AND CALLED FOR A DSCNT. I TOOK THE THROTTLES; TRIMMED THE PWR SINCE IT SEEMED TO FLUCTUATE QUITE A BIT FOR A MOMENT; DISCONNECTED THE AUTOPLT AND STARTED A SMOOTH CTLED DSCNT FROM FL320. THE CAPT CALLED ATC AND DECLARED AN EMER AND RECEIVED CLRNC TO DSND AS LOW AS WE WANTED WITH ASSURANCE OF NO CONFLICTS. I DON'T RECALL THE VERT SPD GETTING MUCH BEYOND 1000 FPM. THERE WERE MAYBE 2 AERODYNAMIC BUZZES SHORTLY AFTER INITIATING THE DSCNT. NO ATTEMPT WAS MADE TO LEVEL OFF UNTIL FL260 AND ABOUT 250 KIAS.

Data retrieved from NASA's ASRS site as of January 2009 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.