Loki always fights side by side with Thor. He fought in Jotunheim. He fought in dead land. He even betrayed Grandmaster for Thor. Even when he had choice to go anywhere, he decided to return to Asgard & fought with Thor.
Loki fighting by Thor’s side is the one constant in the Marvel Cinematic Universe.
I sometimes have my doubts about the reasons why Loki seemingly betrayed the Grandmaster. One might argue that Thor had escaped with the Hulk and Loki would pay for it if he didn’t hand Thor’s head to the Grandmaster. In a way, it was Thor’s life for his, so even when he was chained up by Valkyrie he could be scheming against his brother under the pretext of giving them the access codes to the ships.
But he had the idea first to conspire with his brother against the Grandmaster, not Thor. There was nothing in it for him but his brother’s survival and their freedom.
Who knows, maybe he decided to betray Thor only after his brother said he was giving up on him. There’s this one hint that might indicate that Loki’s decision was made on the spot, that he hadn’t planned it.
See, he was probably testing Thor with that “I’m staying on Sakaar” speech. Apparently it was again Loki being Loki, chaotic, making sure his brother didn’t want him on his side “just for those stupid codes”. You must always remember that Loki is super insecure throughout Ragnarok, in all the films really, not knowing, not believing that people loved him and needing proof constantly. In a way he was trying to win back Thor’s favour by helping him out but then he thought: “If he didn’t need those codes would he still want me to join him, would he still want me back after all I’ve done? Let’s test that.” So, to me, he lied about wanting to stay on Sakaar. It was just a test, and Thor didn’t fall for it. Probably Thor, after his “revelation”, feared he’d lose Loki again so he turned the tables. It was a risk for both of them, a gamble.
Can you see those two idiots, gambling with each other’s feelings, testing their limits? They both risked losing each other because of their stubborness and pride and insecurity.
But in the end, brotherly love prevailed.
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