This half-stanza consists of two sentences. The secondary sentence is interpolated in the lines 3-4. The two sentences are structured as follows:

Geðstrangr Þóarr lét gammleið skömmum biðja sig göngu; þeir fýstusk at þrýsta niðjum Þorns, i.e. "the mind-tough [brave] Þórr did not need to be asked often by the vulture-path [Loki] to make the journey; they were eager to oppress Þorn's descendants [giants]".

gammleið ] The word means "the vulture's way", i.e. lopt "the air". The accusative of Loki's epithet Loptr is Lopt; thus gammleið = Lopt. This poetic device (ofljóst) is not common, but well known and quite permissible.

Skömmum is the dative of skammr, used adverbially, "for a short time" = "not long, not often".

Þorns niðjum ] Literally "the descendants of Thorn". Thorn is equivalent to þurs "giant", as evidenced by the runic alphabet, where the Thorn-rune (Þ) is named Þurs; and by the giant-name Bölþorn, which may be one of Ymir's names.

Þóarr ] Metrically, a two-syllable word is expected here. Therefore, some editors have suggested a form Þóarr, which would form a linguistic bridge between the ancient Þonarr and the less ancient Þórr.

Þeir, in line 3, is usually taken to mean Thor and Loki. This is hardly possible. Loki is a descendant of giants, and as such, he is never described as eager to oppress, or kill, his own kin. His role is always that of the infiltrator among the gods, who encourages them to fight the giants, in the hope that the giants may kill the gods, not vice versa. It will become apparent, later in the poem, that Thor, on this expedition, is accompanied by his servant Þjálfi. In Snorri's prose account of this tale, Loki is said to have accompanied Thor, but no evidence for this can be found in the poem.