Aerotolerant organisms cannot use oxygen for growth but tolerate its presence. Facultative anaerobes can grow without oxygen but use oxygen if it is present.
Facultative anaerobes are quite flexible, they can survive and metabolise either with or without oxygen.When supplied with oxygen they respire and produce ATP and when there is no oxygen they undergo the fermentation process. Aerotolerant anaerobes on the other hand only 'tolerate' oxygen but do not grow in it, they can only grow and ferment in anaerobic conditions.