There are two exercise intensity thresholds related to respiration: VT1 and VT2 (ventilatory threshold).
Everything from minimal activity far below VT1 to VT2 (a.k.a. "lactate threshold", LT, a.k.a. "anaerobic threshold", AT) is "aerobic".
Near the VT2 limit, very little fat is used compared to glucose. Fat burning proportions as high as 95% are only reached under very light activity. (And/or in glycogen depleted exercisers whose body has switched to fat out of necessity). That doesn't represent the entire aerobic range.
There is aerobic use of glucose (below the lactate threshold, "clean burning") and anaerobic (above AT, generating lactic acid).
A useful parameter is the absolute fat burn rate. Maximal fat burning does not occur at exercise intensities that derive a large proportion of energy from fat. Supposedly, this "FatMax" exercise intensity fairly closely coincides with the VT1 threshold. Here, around 60% of the energy comes from fat.
I'm "fat checking" all this as I type; I used to know more about this stuff, but forgot a lot.