Plain English Meaning
The speed in knots that the airspeed gauge in the cockpit is showing right now, with no adjustments made to it.
Full Definition
The airspeed shown directly on the airspeed indicator, expressed in knots, without correction for instrument error, position error, air density, or compressibility. It is the raw reading the pilot sees on the cockpit airspeed gauge.
Context Anchor
Seen in approach procedures, airplane manuals, and flight training discussions when a pilot is told what airspeed to fly.