Who is loki in thor
Granted, it could signal that there are more variants of different Marvel characters out there. The final episode of Loki airs next week and at this point, anything's fair game.
Save FB Tweet More. Loki TV Series. Although he had appeared calm, this knowledge that the one person who had ever believed and cared for him was gone had sent Loki into a fit of rage and he unleashed a seismic blast of his mystical aura, trashing his cell. Loki completely destroyed every piece of comfort which Frigga had ever given him, clawed at the walls and cut his feet in his painful grief.
With his cell in ruins and his only comfort gone, Loki briefly used an illusion to hide his disheveled appearance when he is visited by Thor , who saw through Loki's illusion. Thor told Loki that he planned to confront Malekith on Svartalfheim and he needed Loki's knowledge of the pathways between worlds. Promising Loki that they would have their revenge for Frigga 's death and his freedom as a reward for his help, Thor also vowed that if Loki betrayed him he would kill him without hesitation; nonetheless, Loki agreed to Thor's proposal.
Loki and Thor prepare to escape from Asgard. Free from his cell and excited by the prospect of an adventure while also impressed by Thor's clandestine tactics, Loki began to make fun with Thor, claiming that he was surprised that Thor did not wish to use his strength to escape instead.
Using his magic, Loki gave his brother the appearance of Lady Sif while transforming himself first into an Asgardian Warrior and then into Captain America , noting that Thor seemed to prefer the company of the Avengers. As Loki continued to talk and mock Captain America's Uniform for its tight fit and amusing connotations, Thor grabbed him and pushed him against a wall, covering his mouth. Seeing two Einherjar guards keeping watch, Loki advised that he be given some form of weapon, such as his knife.
Thor seemingly relented but instead of providing him with his blade, Thor simply shackled him. While Loki appeared unimpressed, Thor reminded him that he usually enjoyed tricks. As they were approached the abandoned shuttle of the Dark Elves , both Lady Sif and Volstagg threatened to kill the amused Loki if he even thought about betraying Thor.
When they reached Jane Foster , she punched Loki in the face, telling him the punch was for what he did to New York City. Still amused, Loki commented to Thor that he liked Foster for her feisty nature before they continued their journey to the ship.
Loki and Thor continued with their brotherly bickering, with Loki commenting on Thor's poor flying skills, especially when he accidentally beheaded a statue of Bor.
Loki suggested that the pilot the ship; Thor reminded him that he was the only one who could fly, despite Loki's proven ability to use unfamiliar technology. When Foster fainted due to the Aether in her veins, Loki casually asked if she was dead and berated Thor about his poor plan. As he continued he spill out insults to his brother, Loki was then pushed onto a Asgardian Skiff flown by Fandral.
Once Thor landed on the Skiff as well, Loki commented on how impressed he was that he had successfully tricked him. As Fandral helped the trio make their way out by attacking the Einherjar, Loki was able to fly the Skiff to a secret location where he was able to transport them out of Asgard and onto the Dark Elves ' homeworld of Svartalfheim. When the three arrived in Svartalfheim , Loki continued to drive the Asgardian Skiff while Thor cared for Jane Foster as she recovered from the Aether 's power overloading her body.
Loki began to mock Thor's love for a human woman and antagonized his brother, claiming that within a heartbeat she would be dead and he would live on due to the Asgardian lifespan being so much longer. As Loki claimed that the Dark Elves ' attack was Thor's doing for locking him in the Asgardian Dungeons , he managed to annoy his brother so much that Thor pushed him back and considered punching him in the face; however, Thor stopped himself as he believed Frigga would not want them to fight.
Loki argued that while he was right, she would not be surprised. When Thor told Loki he wished he could trust him, Loki told him to trust his rage. Loki and Thor watch Malekith 's arrival. Arriving in Svartalfheim , Loki and Thor looked over the wasteland of the planet as they saw Malekith and his small army of Dark Elves exiting their Ark to confront their attacks.
While Loki commented that their plan would undoubtedly get them all killed, Thor uncuffed his brother and prepared to attack their enemies, with Loki questioning if Thor trusted him or not. Loki seemingly makes a deal with Malekith. When Thor asked if Loki would even trust himself, Loki told him that he would not. As part of their plan, Loki then pretended to betray Thor, stabbing him in the side and kicking him off the edge of the cliff. While the Dark Elves watched, Loki mocked and insulted his brother before making an illusion of him cutting off Thor's right hand.
Loki then threw Jane Foster before the Dark Elves, claiming his allegiance with them and his desire to watch Asgard burn. Loki saves Jane Foster from the Aether. However, Malekith was still able to absorb the fragments. As the Dark Elves retreated to their giant ship , Malekith's lieutenant Kurse stayed behind to keep Thor and Loki busy. With Malekith having regained the Aether from the Asgardians as he had planned, he no longer had any need to keep them alive and ordered their demise.
Though he himself was nearly sucked in it, he was saved at the last moment by Thor as they prepared to retaliate against the Dark Elves and stop Malekith. Loki is challenged by a team of Dark Elves. Armed only with his dagger, Loki found himself surrounded but remained confident in his abilities and instantly began planning how to beat them. As the Elves attacked, Loki easily defeated them all by using his speed and trickery to gain the upper hand and kill them before seeing that Thor was struggling to battle Kurse.
Seeing Thor being beaten into submission by Kurse , Loki ran to his brother's aid. He stabbed Kurse from behind, pushing the blade through his chest. The Kursed warrior then grabbed Loki and pulled him onto the blade, stabbing him as well. As one final ruse before he began losing strength, Loki activated one of Kurse's Black Hole Grenades , which then sucked the Dark Elf into a black hole, crushing his entire body and destroying him in just mere seconds.
Thus, Frigga's death was avenged. With Kurse destroyed and Loki seemingly mortally wounded from his injury, Thor ran to his aid and told a dying Loki that he would tell Odin about his noble deed. Loki looked into his brother's eyes and replied that he did not do it for Odin, but for Frigga, before his skin turned grey and he seemingly died in Thor's arms as his brother cried out in grief. As it appeared Loki was dead, Thor and Jane Foster left him behind on Svartalfheim as they continued their mission to stop Malekith.
Loki disguised as an Einherjar Guard. However, Loki's death was just another of his illusions. Seemly weak but still alive, Loki then waited for Thor and Foster to depart from the planet to find Malekith on Earth. Then, when an Einherjar Guard had come to check the battlefield, Loki apparently killed the guard and took his place, returning to Asgard without anyone seeing.
Disguised as the Einherjar Guard, Loki informed Odin that a body was found on the battlefield. Odin responded, believing Loki to be dead. Loki successfully disguises himself as Odin. Loki managed to take Odin 's place and usurped the throne of Asgard. When Thor defeated Malekith , he returned to Asgard to give his report to Odin. Disguised as Odin, Loki offered him the throne, but Thor declined while honoring Loki's sacrifice.
Thor thanked him and left the room. Loki reverted to his true form and smiled in triumph at reclaiming the throne of Asgard at long last. Due to the enmity between Kree and Asgardians , Loki sent Sif to investigate. Afraid he would be exposed, Loki banished Lady Sif from Asgard. In order to prevent Thor from picking up on any subtle differences in their personalities and eventually figuring out Odin was really Loki in disguise, Loki granted Thor the freedom to act as he pleased in order to keep the peace of the Nine Realms , which would mean that Thor would be away from Asgard more often while Loki could rule Asgard in peace and enjoy all of the riches this power brought him.
Loki also banished Heimdall from his long-standing position as the guard of the Bifrost Bridge and appointed Skurge as his replacement. Skurge's true purpose was to report to Loki when Thor had returned to Asgard, allowing Loki time to switch to Odin's stricter personality.
While taking pleasure in his role, Loki convinced the Asgardians that he was a tragic figure, commissioning a large statue of himself while also commissioning a Stage Production of his own death [8] a script for which he wrote himself. Having been ruling over Asgard for four years while enjoying himself immensely, Loki, still in his Odin disguise, took time out of his day to sit with the Asgardians , eating grapes and watching the play, The Tragedy of Loki of Asgard , which depicted his "death" on Svartalfheim.
As the performers acted out the production, Loki smiled and commented on the piece, quoting the lines with them and then clapping enthusiastically once they were finished with the play. Loki is shocked by Thor 's return to Asgard. However, to Loki's surprise, Thor unexpectedly arrived and greeted him, having also brought with him the Crown of Surtur following his recent Escape from Muspelheim , with a suspicious Thor questioning if Loki even knew what it was before sending it into Odin's Vault.
Loki questioned if Thor would be heading back onto Midgard soon in the hope that his cover would not be blown: However, Thor confirmed he was not, which had made Loki considerably more nervous.
Loki is forced by Thor to finally reveal himself. The moment Loki's true identity was revealed, Skurge finally arrived, having run from Himinbjorg , to announce Thor's arrival, much to Loki's great annoyance as he reminded Skurge that warning him of Thor's arrival was his only job.
Exposed, Loki tried to defend his deception, insisting that Asgard had prospering while Thor had the independence he always wanted, claiming that by revealing his identity Thor had ruined everything he had just achieved. Ignoring all that Loki was saying, Thor then furiously demanded to know where Odin was, questioning if Loki had murdered him or not.
Thor had then put Volstagg and Fandral in temporary charge of the Bifrost Bridge as he and Loki went to investigate further. Loki and Thor searching for Odin together. When they reached Earth , they discovered that the retirement home within New York City where Loki had left Odin had been bulldozed, which left Loki with no idea where Odin was now.
When Loki insisted that he could not have predicted this had happened, Thor teased him by questioning why he now dressed as a witch. Thor then questioned how Loki was still alive following witnessing his death at the hands of Kurse back on Svartalfheim , insisting that he had mourned for his loss which Loki claimed he was honored to hear. Loki falling through Doctor Strange 's portal.
While Thor then posed for a photograph with two Humans , Loki then overheard that Thor had been dumped by Jane Foster only to be distracted by something happening underneath him. Looking down, Loki saw a small portal was being created underneath him which he insisted he had nothing to do with. Before he could react, Loki then fell through the portal that had just opened beneath his feet, conjured by Doctor Strange to keep Loki from harming anyone on Earth.
While Loki was falling through an unknown space, Thor then visited Doctor Strange who offered to locate Odin on the condition that Loki, Odin, and Thor promptly returned back to Asgard thereafter to avoid anything like the Battle of New York happening again.
After thirty minutes of falling, Strange remembered about Loki and then used his own Sling Ring to warp him inside the New York Sanctum , where the furious Loki confronted Strange for letting him fall for so long. Loki gets teleported away by Doctor Strange.
Upon hearing Strange note that he thought Thor could now handle his brother from his point on as they said their goodbyes, Loki, out of annoyance and anger, attempted to attack Doctor Strange, furiously calling the Master of Mystic Arts a second-rate magician as he then drew a pair of knives to get his revenge.
Doctor Strange, however, had refused to even bother engaging with Loki and simply sent him and Thor through the portal to Norway , where Odin was waiting. Loki and Thor both find Odin standing alone. Along with Thor , the two brothers fell through Doctor Strange 's portal where they found and joined Odin , who was standing alone on the edge of a cliff within Norway , watching over the entire landscape.
As they approached him, Odin appeared distracted, commenting on how he could hear Frigga calling out to him, which Thor mistook as more of Loki's Magic still having an effect on their father, although Loki denied this. Loki and Thor are reunited back with Odin.
Odin revealed that he had broken from Loki's spell but told Loki that his mother would be proud of him for casting an effective spell onto him, which had shocked Loki who had not ever had such praise from Odin. Sitting down while still overlooking the landscape, Odin told his sons to admire all the beauty of the landscape and the sea in front of him, reminiscing of Asgard. Odin explained that Hela was, in fact, Thor's first-born sister who had been imprisoned within Hel for thousands of years due to her violent needs.
While Odin considered this shocking news, Odin told Loki and Thor that he loved them both as his body dissipated into energy and was taken away by the wind. Having witnessed the death of his father and having learned Odin's secrets regarding Hela, Thor's grief and anger caused storm clouds to gather above, as he furiously claimed that this was Loki's fault, as it had been Loki's actions with banishing Odin to Earth without any of his Asgardian powers which had led to Odin's body dying of his long life.
While lightning came out of Thor's fingertips as his anger grew, Loki fearfully had then attempted to calm him back down. Loki and Thor meeting Hela for the first time. With Odin now dead and past into the afterlife, Loki and Thor were then forced to put aside their differences as Hela , having now been released from her prison in Hel due to Odin's death, materialized before them. Loki and Thor then returned to their Asgardian uniforms to then greet Hela once she returned, who commented on how she wished she had been there to witness her own father's demise.
Loki attempting to create a peace with Hela. Loki looked on as Thor introduced himself as the son of Odin, while Hela commented that he did not look like Odin. Loki then attempted to make an arrangement with Hela, to which she had commented that Loki sounded more like Odin than Thor did.
Hela then ordered the two brothers to kneel before her as she drew her Necroswords , while Loki attempted to talk things peacefully. Loki being chased through the Bifrost Bridge. Seeing that they were vastly outmatched by their newest enemy, Loki quickly tried to go back into Asgard with Thor through their Bifrost Bridge.
However, Thor horrifically told Loki not to use Bifrost Bridge, as it will cause Hela to follow them while going back to Asgard, but was too late, while Hela still followed closely behind and eventually launched both Thor and Loki out of the Bifrost during mid-transport, with Loki now believing that this had caused Thor's demise.
Loki happily relaxes while trapped on Sakaar. Despite being in such a strange environment, Loki had soon managed to come in the favor of the Grandmaster who had viewed Loki as his friend and had often invited Loki to rejoin him to enjoy the Contest of Champions which the Grandmaster had enjoyed putting on. Loki then enjoyed a prolonged period of several weeks drinking with the Sakaarans and telling stories of the Duel at the Rainbow Bridge , enjoying all of the reactions he got from telling these such stories of his own life before he had arrived within Sakaar.
Loki discovers that Thor is actually still alive. While telling some of his stories to the amused Sakaarans, Loki was then completely and utterly shocked to discover that Thor was still alive following their encounter with Hela some weeks earlier, although he had been captured by the Grandmaster and was being prepped to face his champion. Loki and Thor had reunited as Thor questioned what was happening while Loki noted that he had not had the same experience as Thor had gone through when he had arrived.
Loki and Grandmaster watch Thor 's capture. While they were awkwardly being watched by the Grandmaster, Loki had then explained that he could not do anything more to ensure his brother's release from the Grandmaster's custody.
The Grandmaster asked if Loki knew Thor, which the former denied knowing before Thor added that they were brothers. However, Loki clarified that he was adopted. The Grandmaster then noted that the only way that Thor would be able to finally win his own freedom would be to defeat his Champion, before sending him away to meet the Gladiators who included Korg and Miek , while Loki still remained by the Grandmaster and had enjoyed all the many joys which were presented to him.
Loki visiting Thor inside of his prison cell. Seeking to make his own way off from Sakaar , Loki had then quietly communicated to Thor via a holographic projection in his cell for the Contest of Champions , where he attempted to convince Thor to abandon Asgard , and instead, join him by the Grandmaster 's side so they could both live in luxury. However, Thor refused to talk to his adopted brother, merely throwing stones through his projection. Loki proposes how to deal with Grandmaster.
Loki suggested to Thor that they betray the Grandmaster and allow him to die so they could control Sakaar together. Loki's illusion is forced to leave Thor 's cell. Loki prepared to leave, Thor blamed him for everything happening to him, scolding him for causing Odin 's death and, in turn, his part with releasing Hela from Hel and then causing the deaths of the Warriors Three.
Remaining calm and focused on himself, Loki warned Thor that the Grandmaster's champion is "astonishingly savage" and had noted that he had made his large wager against Thor, before Loki's illusion left as Korg appeared to tell Loki's illusion to leave. Loki waits to watch the Contest of Champions.
Still enjoying his time in Sakaar , Loki came to watch Thor as he had prepared to fight in the Contest of Champions. Taking a drink as he entered, Loki watched while Thor put on his helmet and prepared for the battle, armed with Doug's Mace and Shield and a pair of swords , with Loki still remaining confident that he would make a grand profit out of watching Thor lose in the upcoming battle. Loki is ordered to stay by the Grandmaster. As Loki watched from above, he happily awaited the arrival of the Champion who Thor would be fighting against.
However, it had turned out that the champion was Hulk , to Loki's shock and horror as he recalled how Hulk had beaten him senseless during the Battle of New York. Unwilling to be near Hulk again, Loki had attempted to leave Sakaar only for the Grandmaster to stop him as he insisted that Loki stay and watch the fight with him.
Loki awkwardly watches as Thor talks to Hulk. Not revealing to the Grandmaster that he had previously encountered Hulk, Loki sat in awkward silence while Thor delighted at being reunited with his fellow Avenger , as Thor pointed to Loki who was sat watching in horror. Loki watches while Thor battles Hulk. Loki watched as Thor and Hulk furiously battled each other, while Hulk had soon managed to gain the upper hand, armed with his own Sakaaran Battle Axe and War Hammer. However, when Thor had managed to land a heavy blow against Hulk, he attempted to use the Black Widow 's technique to calm him down, only for Hulk to smash Thor into the ground as he had done to Loki back in New York , much to Loki's delight as he yelled that Thor now knew how he felt.
Loki watches as Hulk finally defeats Thor. Loki and the Grandmaster kept watching as Thor and Hulk continued fighting, until Thor unexpectedly gained a sudden surge of his power, allowing his entire body to be engulfed with lightning as he struck Hulk and damaged his Sakaaran Battle Armor. Unwilling to watch his beloved Champion defeated, however, Grandmaster activated Thor's own Obedience Disk , which then caused him to fall down to the floor, allowing Hulk to finally win the duel, much to Loki's dismay.
Loki and Valkyrie meet with the Grandmaster. While Loki continued enjoying the luxury of his lifestyle while he was still staying in Sakaar , meanwhile Thor and Hulk had disappeared from their cells, resulting in the Grandmaster becoming furious about their escape and demanded that they be found. Loki and the Grandmaster's chief bounty hunter Scrapper were contacted by the Grandmaster, who offered a great bounty for their capture as he refused to allow his beloved champion to escape from Sakaar.
Loki promises to find both Thor and Hulk. In his attempt to maintain the favor of the Grandmaster, Loki vowed to bring both Thor and Hulk back to him within hours, although Scrapper made the same promise. When Loki interrupted the Grandmaster, Topaz had responded by offering him the Melt Stick to punish Loki by destroying him, although Grandmaster insisted that interruption was not a crime punishable by death.
The Grandmaster then sent Loki and Scrapper to complete their task for him. Loki has a brief duel against the Valkyrie. As they made their way out of the meeting with Grandmaster, Loki and Scrapper had a brief argument instead of beginning their search for Thor and Hulk, as this had quickly turned into a duel, with both drawing their knives and slashing at the other.
During their fight, however, Loki then noticed a tattoo on Scrapper 's arm and realized she was, in fact, the last living Valkyrie ; however, Valkyrie was clearly unwilling to allow this secret to be revealed as she kicked Loki away and furiously threatened him by pinning him against the wall and telling him to chose his next words carefully, although Loki had still remained unintimidated by Valkyrie's threat against his life.
Loki giving Valkyrie her horrifying flashback. Noting what a painful memory it must be for her, Loki used his Magic to then make Valkyrie relive the Massacre of the Valkyrie at the hands of Hela when she had attempted to escape from Hel , which had also eventually had led to Valkyrie living her life on Sakaar and drinking herself towards death.
Furious at Loki's actions at making her relive her own trauma, Valkyrie responded by knocking him out with a hard punch to the face before chaining him up inside her room. Loki is chained up and brought back to Thor. Having been captured by Valkyrie , Loki was left chained up inside of her room, waiting for her to return.
Thor first ensured this really was Loki by throwing a bottle at his head, before Banner noted how they had last seen each other during the Battle of New York , as Loki calmly threatened Banner. Loki happily agrees to betray the Grandmaster. While he remained chained up, Loki had listened as Thor, Banner and Valkyrie discussed how to leave Sakaar and return back to Asgard by going through the Devil's Anus.
As the team were discussing how they would require a strong ship to get through the Anus, Loki spoke up and noted that the Grandmaster had several ships which could do the job, and then offered to give their team access to these ships in exchange for safe passage away from Sakaar for himself. Loki listens as the Revengers make their plan. Although Loki offered his help, Banner was nervous about trusting him, noting how Loki had just threatened his life.
Loki then listened and smiled to himself as Thor told the others a story of how Loki had tricked Thor by using magic to turn into a snake before stabbing his brother. They finally agreed to Loki's plan, noting they would need a distraction as Loki suggested unleashing Hulk , but Thor dismissed this as they agreed to start a Rebellion as a distraction.
Loki prepares to fight again alongside Thor. While Valkyrie had successfully initiated the revolution on Sakaar by giving Korg and the other Contest of Champions gladiators weapons, Loki and Thor had teamed up to steal one of the Grandmaster 's shield generator-powered ships.
And Thor: Love and Thunder will explore all that. While we have no idea whether Hiddleston shot any scenes for Thor 4 , there is one Loki variant in the show. We heard months ago that Thor: Love and Thunder would feature a few fantastic cameos in the form of actors playing Asgardians. That is just extraordinary. We were kind of reprising a cameo that we that Luke Hemsworth and I did in the last one.
And we had a ball, and so Taika [Waititi] had us back again, to kind of run that joke back and upgrade it a little bit. The remaining Asgardians who survived Ragnarok and Thanos are all on Earth. Volstagg remarked mockingly to Loki that his "Silver Tongue" had turned to lead.
Nevertheless, he allowed them to pass, and the group used the Bifrost to travel to Jotunheim. Loki, realisiing that this was their only chance to return safely, attempted frantically to whisper to Thor not to rise to it, naturally to which his brother decided to do the opposite.
Thor's recklessness, arrogance and eagerness for glory led them into conflict and he attacked the Jotuns even after being granted safe passage home. During the ensuing fight, Loki fought competently with his throwing daggers and illusion magic, but had his wrist grasped by a Jotun.
Expecting his skin to freeze, Loki was immensely surprised as the Jotun's touch did him no harm, a revelation that led him to question his upbringing in a way he never had before. Despite the groups' best efforts, they eventually became gravely outnumbered, and during the fray, Fandral was impaled through the chest by a shard of ice.
While the rest of the group began to retreat, Thor continued his assault, blind to his friend's peril. A large Frost Beast awakened during the battle, and attacked the group, but was slain by Thor moments before it could strike. As the remaining Jotuns surrounded the group, the Bifrost activated and dropped Odin, mounted upon his octopedal horse, Sleipnir , into Jotunheim.
He attempted to talk Laufey into a peace, but Laufey continued the attack, forcing Heimdall to activate the Bifrost and bring the Asgardians home. Back on Asgard, Odin vented his fury on Thor, calling him vain, selfish and greedy for having quite possibly just restarted an ancient war that could have been avoided.
Thor argued to justify his actions, and a furious row ensued- Loki stayed quiet, watching at first with some interest, and then with horror, as Odin grew more and more furious at Thor, stripping him of his royal disks by hand.
Whilst Loki had intended to get Thor in trouble, he had never intended for him to be banished. Thus Loki intervened, trying to defend Thor, and was silenced by Odin, who announced to Loki's immense worry, that Thor was to be banished to Midgard. Once Thor's banishment via the Bifrost was complete, a stunned Loki made his way back to the palace. Later, in the healing chamber, Loki revealed to Sif and the Warriors Three that he in fact told Heimdall to inform Odin of their trip to Jotunheim. Upon the other's indignant questioning, Loki told them his reasoning was sound- that he felt Thor was foolish to seek battle with the Frost Giants.
He went on to admit that he did not, however, expect Odin to banish Thor for his arrogance and stupidity. The others began to suspect from his strange behaviour that Loki was perhaps involved with the Frost Giants' infiltration of Asgard, and even further, with Thor's banishment. Loki was unaware of this: one thought consumed him, and that was what he had discovered about himself on Jotunheim.
Having suspicions about his true heritage, he headed to Odin's vault, where he picked up and held the Casket of Ancient Winters. At that moment, Odin came up behind him, but it was too late- Loki's suspicions had been confirmed, and he looked at himself in desperate horror, as the immense cold of the Casket turned him briefly to his Frost Giant form.
As Odin tried to explain, Loki demanded that he tell him the truth, to which his adopted father responded with the story of how he had found Loki as a baby in Jotunheim, abandoned and left to die.
With tears in his eyes, Loki asked why he had never been told- Odin said sadly that he had not wanted him to feel like an outcast. A painful mixture of fury and devastation at learning he had been lied to his whole life, Loki began to rant at Odin through tears, asking sarcastically whether he was "just another trinket" to be brought back home to Asgard and put in the vault.
However, before Loki could finish, Odin collapsed on the floor before him, having fallen into a comatose state known as the "Odinsleep", where Odin recharges the force of his powers. Horrified and upset, Loki called for the guards, and was later told that with Thor banished and Frigga unwilling to leave Odin's side, he was left acting King. Although greatly worried for his father and traumatised by what he had learned about himself, Loki accepted the duty- he was at first almost disbelieving, having his dream come true in such an awful way, but quickly grew to enjoy the power and recognition it allowed him.
Being suspicious of Loki's actions and wishing him to help them revoke Thor's banishment, Thor's friends proceeded to the throne room for an audience with the King- but rather than find Odin, they found Loki, who explained the present situation to them. Sif pleaded with Loki to revoke the banishment of his brother, to which Loki replied that it would be unwise to have his first act as King a direct converse to the act of his predecessor.
Loki now saw Thor's banishment as a convenience to him, and realized that if Thor were to return, he would no longer have the power he so desired.
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