Etrigan-Immortal human with knowledge of mysticism capable of transforming into a demonic alter-ego with superhuman strength, speed, agility, stamina and durability with sharp fangs and claws and an ability to emit mystical flames from the mouth.
Blood and his alter-ego are able to cast mystical spells and sense the past and future of others they encounter.
Blood or others with mystical talents can initiate the transformation by reciting the spell, "Change! Change! Transmogrify! Free the might from fleshly mire! Boil the blood in heart of fire! Gone, gone the form of man! Rise the Demon Etrigan."
Another spell must be cast to transform Etrigan into Jason Blood.
vs
Loki-Being with god-like strength, speed, agility, stamina, durability, an immunity to all known diseases and environments capable of powerful mental projections not bound by space or dimension.
A master of the mystical arts with abilities to take any form including other gods (although without the ability to mimic their special attributes), animate inanimate objects, travel through space and across dimensions, perceive occurrences in remote locations through astral projection and cast a wide variety of other spells
Loki has superior mystical finesse with his magical powers; Etrigan would physically be superior in terms of raw combat. With prep, Loki for the high majority. If spontaneous (and Loki is unable to flee), Etrigan gets the majority, as he is physically more powerful and vicious.
__________________ Why am I here commenting on this crap?
According to the hit Superman to the moon feat I would say yes.
Also Thor only hit Loki with enough force to damage a small mountain (as said by the narrator). So that means Etrigan can easily do the same.
Also Loki isn't even class 100. Thing, Namor, etc. can easily ko him if they land some good blows. Loki is a 50 tonner at best.