Loki's astral manifestation was a shock to Billy, and it took him a moment to gather his wits enough to speak. His emotions were conflicted over the matter also. On one hand, he had almost thought himself abandoned by the Asgardian who had dubbed him his student. On the other hand, Teddy had almost pleaded for him to distance himself from Loki for the time being, until everything was sorted out.
"Loki," he said quietly as he straightened himself. He knew enough from his studies to know that Asgardians did not broker weakness and feelings of self-pity.
"I failed you. I tried to get close to Wanda, as you asked of me, but my anger got the best of me and she now knows that you are my teacher. I'm sorry."