Airline Performance: Air Canada's operational and financial results directly impact AOT.TO's revenue, influencing its stock price.

Passenger Traffic: Airport passenger volumes, driven by tourism and business travel, affect AOT.TO's earnings, impacting investor sentiment.

Economic Conditions: Overall economic growth or recession influences travel demand, impacting airport revenue and AOT.TO stock performance.

Interest Rates: Changes in interest rates can affect Air Canada's borrowing costs and investment decisions, indirectly influencing AOT.TO.

Regulatory Environment: Government regulations impacting aviation, airport operations, or fees can affect AOT.TO's profitability.

Fuel Prices: High fuel costs for airlines can reduce air travel demand, impacting airport traffic and AOT.TO's financial performance.

Geopolitical Events: Global events such as pandemics, conflicts, or political instability can disrupt air travel, affecting AOT.TO's stock price.

Competition: Competition from other airports or transportation modes can impact AOT.TO's market share and revenue.

Capital Expenditures: Large investments in airport infrastructure upgrades can affect AOT.TO's financial performance and stock valuation.

Dividend Policy: AOT.TO's dividend payouts and dividend policy can influence investor demand for the stock.

Market Sentiment: General investor sentiment towards the airline industry and infrastructure stocks can affect AOT.TO's stock price.

Currency Fluctuations: Changes in the value of the Canadian dollar can impact AOT.TO's financial results, especially international revenues.