Отмена брони возможна без штрафа, если предупредить заранее.

Cancellation of the reservation is possible without a penalty if you warn them in advance.

Breakdown of Отмена брони возможна без штрафа, если предупредить заранее.

• если: if
• без: without
• возможный: possible
• заранее: in advance

Questions & Answers about Отмена брони возможна без штрафа, если предупредить заранее.

Why is возможна feminine, and not возможно?

Because возможна agrees with отмена, which is a feminine singular noun.

• отмена = cancellation
• возможна = possible, feminine singular short-form adjective

So the structure is:

• Отмена брони возможна = Cancellation of the booking is possible

If the subject were neuter, you would get возможно. For example:

• Это возможно = This is possible

Here, though, the subject is отмена, so Russian uses возможна.

Why is there no word for is in the sentence?

In the present tense, Russian usually omits to be.

So:

• Отмена брони возможна
  literally looks like: Cancellation of booking possible but means: Cancellation of the booking is possible

This is completely normal in Russian.
If you wanted past or future, then forms of быть would appear:

• Отмена была возможна = Cancellation was possible
• Отмена будет возможна = Cancellation will be possible

Why is it брони, not бронь?