Before he knew what had happened Loki was miles and miles up in the air and the eagle was flying with him toward Jötunheim, the Realm of the Giants. And the eagle was screaming out, "Loki, friend Loki, I have thee at last. It was thou who didst cheat my brother of his reward for building the wall round Asgard. But, Loki, I have thee at last. Know now that Thiassi the Giant has captured thee, O Loki, most cunning of the dwellers in Asgard."
Thus the eagle screamed as he went flying with Loki toward Jötunheim, the Realm of the Giants. They passed over the river that divides Jötunheim from Midgard, the World of Men. And now Loki saw a terrible place beneath him, a land of ice and rock. Great mountains were there: they were lighted by neither sun nor moon, but by columns of fire thrown up now and again through cracks in the earth or out of the peaks of the mountains.
Over a great iceberg the eagle hovered. Suddenly he shook the spit from his breast and Loki fell down on the ice. The eagle screamed out to him, "Thou art in my power at last, O thou most cunning of all the Dwellers in Asgard." The eagle left Loki there and flew within a crack in the mountain.
Miserable indeed was Loki upon that iceberg. The cold was deadly. He could not die there, for he was one of the Dwellers in Asgard and death might not come to him that way. He might not die, but he felt bound to that iceberg with chains of cold.
After a day his captor came to him, not as an eagle this time, but in his own form, Thiassi the Giant.
"Wouldst thou leave thine iceberg, Loki," he said, "and return to thy pleasant place in Asgard? Thou dost delight in Asgard, although only by one-half dost thou belong to the Gods. Thy father, Loki, was the Wind Giant."
"O that I might leave this iceberg," Loki said, with the tears freezing on his face.
"Thou mayst leave it when thou showest thyself ready to pay thy ransom to me," said Thiassi. "Thou wilt have to get me the shining apples that Iduna keeps in her basket."
"I cannot get Iduna's apples for thee, Thiassi," said Loki.
"Then stay upon the iceberg," said Thiassi the Giant. He went away and left Loki there with the terrible winds buffeting him as with blows of a hammer.