Date: 201206
Local time of day: 1201-1800
Location: ZZZ.Airport, US
Flight conditions: VMC
Light: Daylight
Aircraft: B737-700
Operator: Air Carrier
Operating under: Part 121
Flight plan: IFR
Mission: Passenger
Flight phase: Initial Approach
Airspace: Class B ZZZ
ATC / advisory: Tower ZZZ
Aircraft component: Flap Control (Trailing & Leading Edge)
Component problem: Malfunctioning
Reporter organization: Air Carrier
Reporter function: Captain; Pilot Flying
Reporter qualification: Flight Crew Air Transport Pilot (ATP)
Human factors: Distraction; Confusion
Second reporter function: Pilot Not Flying; First Officer
Anomaly: Aircraft Equipment Problem Critical; Inflight Event / Encounter Fuel Issue
Detector: Person Flight Crew
When detected: In-flight
Result: Flight Crew Executed Go Around / Missed Approach; General Declared Emergency
Contributing factors: Aircraft
Primary problem: Aircraft

Narrative: We executed a go-around while approaching to land after getting an 'Airspeed Low' Warning and stick shaker. Both the First Officer (pilot not flying) and I noticed a brief illumination of the LE Flap in Transit light. We consulted the QRH and performed the procedures for a flaps 15 landing. OPC data indicated a safe landing; and we asked for clearance to land. While configured at flaps 15 and landing gear down on speed; we received the same warning and stick shaker at 500 FT AGL and performed another go-around. I flew the aircraft and the pilot not flying contacted Maintenance for additional guidance. I advised ATC we were low fuel and needed a close in vector to perform the QRH procedure. ATC was congested and I declared a fuel emergency to get expedited handling back to the airport. I called the Flight Attendants and told them to prepare the cabin; but we expected not to evacuate the cabin. We computed OPC data for a flaps 15 landing and flew an uneventful approach and landing. Both pilot flying and pilot not flying were task saturated with ATC and Dispatch while performing QRH procedures. Had our fuel state been not as critical; I would have briefed the flight attendants more thoroughly.


Second narrative: The Captain did another go-around and after getting established at 3;000 FT MSL; I used VHF 2 to talk to Maintenance to see if they had any suggestions to assist us with the problem. He mentioned a possible sensor failure that could trigger the indications we received. Due to low fuel the Captain declared an emergency. We ran the checklist again and flew an uneventful flap 15 approach with normal flap indications. After landing the Captain advised the passengers that everything was okay and to stay seated. We taxied to the gate and shut down normally. Fuel at shutdown was 2.9. The most disconcerting thing about this situation was the Airspeed Low and stick shaker warnings. The checklist does not mention anything about getting these after you comply with checklist procedures and attempt a flaps 15 landing.


Synopsis: B737-700 flight crew reported stick shaker and 'Airspeed Low' warnings on approach. After a go-around and completion of procedure another approach was executed; where the stick shaker was again alive; triggering another go-around. A third approach was successfully completed.