Fastjet sees 'substantial' benefit from low oil prices

Dec 2 (Reuters) - Budget airline fastjet Plc said lower oil prices were resulting in a "substantial" cash benefit for the company, which does not hedge its fuel purchases.

"With fuel representing around 40 percent of our operating costs and oil prices forecast to remain at these low levels through early 2015, fastjet is directly benefitting from the reduced oil price," Chief Executive Ed Winter said in a statement. (Reporting by Esha Vaish in Bengaluru; Editing by Robin Paxton)