The Spaniard is targeting mid-March for his Gunners comeback.
Fabregas told the Sun: “It could have been much worse!”
He added: “The doctor told me I was lucky because my foot was in the air during the collision.
“If it had been on the ground I could have ruptured my anterior cruciate and had internal and external injuries. Anything could have happened.
“I have tried to take the positives out of the situation. Of course I don’t want to be injured but it could have been a lot worse — it could have been nine months out.
“There will still be things to play for when I come back.
“I could be ready for the Champions League quarter-finals if we get through and hopefully we will still be in contention for the FA Cup and the Premier League.
“At the end of that there is also the Confederations Cup with Spain so there is a lot to look forward to.
“It’s not a disaster. There are worse things that happen in life.”
Fabregas suffered the injury during an clash with Xabi Alonso during the 1-1 draw against Liverpool at the Emirates last Sunday.
He said: “It was an accident with Xabi and there was no fault on his part.
“He was very concerned and has been calling regularly. He is a good friend.
“It’s incredible how many messages I’ve had — more than when I won the European Championships with Spain.”
Fabregas added: “I didn’t realise how bad the injury was at first but as soon as I tried to stand up I knew I was in trouble. I could hardly put any weight on my foot.
“But I don’t need surgery which is good news.
“I haven’t had any serious injuries in my career so you have to accept it when it’s your turn. It is one of the hazards of football.”
